Labor Market

Slow Growth in First Quarter

In the first three months of 2012, the Austrian economy grew by 0.3% against the prior quarter. The outlook is very cautious.

June 9, 2012

Small Growth Rate in Austrian Service Industry

Austrian service enterprises achieved an increase of turnover by 4.0% in the first quarter 2012.

June 5, 2012

Employment Benefits from High Growth Dynamics

The encouraging growth trends provided a very welcome boost to employment in the Austrian federal provinces. The construction industry stabilises.

June 5, 2012

Trade Unions Wants „Just Taxation“

The Austrian Trade Unions warn of a strict austerity policy and pushes for growth stimulating measures.

June 2, 2012

Rising Unemployment – Industry Claims More Flexibility

Among the EU member states, Austria has still the lowest unemployment quota. Compared to May 2011, the number of unemployed persons rose by 5.1%.

June 1, 2012

EU Calls on Austria to Accelerate Reforms

Austria has to put more effort in reforms. In the fields of education, labor market, retirement plan and budget consolidation, Austria shows deficits.

June 1, 2012

More than 300,000 Unemployed

The situation of theAustrian labor market remains tensioned. At the end of May, 300,000 persons did not have a job.

June 1, 2012

Slow Growth in Austrian Industry

In 2012, the Austrian economy is expected to grow by 0.8%. The overall uncertainty remains, optimism in the Austrian industrial sector shrinks.

June 1, 2012

Austria´s Education Does not Keep up with Globalization

The Austrian economy suffers from a lack in skilled labor. Facing the rising competitiveness of emerging countries, this may become a major problem for Autria.

May 31, 2012

Exposure in Eastern Europe Remains Austria´s Weak Point

The Commission of the European Union warned Austria of the big exposure of domestic banks in Eastern Europe. Moreover, the austerity package was criticized.

May 30, 2012

Austrian Paper Industry Sees Lack in Skilled Workers

Last year, the domestic paper industry recovered. The new challenge would be to attract sufficient skilled workers.

May 23, 2012

Black Labor Decreases

In Austria, the share of black labor is still big. However, there is a downward trend.

May 22, 2012

“Three Problems of Europe: Divergence, Indebtedness and Weak Banks”

The new director of the Austrian IHS (Institute of Advanced Studies) Christian Keuschnigg thinks that a Greek exit would have to take place suddenly.

May 21, 2012

Androsch Criticizes Political Inactivity

The former Austrian Finance Minister and industrialist Hannes Androsch thinks that both austerity and growth strategies are needed and criticizes the government sharply.

May 18, 2012

Economic Indicator: Slow Recovery Expected

The Bank Austria business indicator indicates a slight upward trend. In the second quarter, economic growth is expected to reach 0.2%.

May 16, 2012

Austrian SME as Innovation and Job Engine

SMEs account for 66 per cent of overall employment in Austria and have created 44,000 new jobs over the last four years. Bank Austria underlines the importance of innovation.

May 16, 2012

Keuschnigg Worries About Austria´s Competitiveness

The new director of IHS (Institute of Advanced Studies) Christian Keuschnigg suggests reforming the Austrian labor market. The welfare state would be too sophisticated.

May 15, 2012

Keuschnigg: „Problem Countries Must Cut Wages“

The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.

May 12, 2012

Austrian Labor Market: Most Jobs in SME

The quantitatively most important employer in Austria are still small and medium sized enterprises. Above all, handicraft enterprises are a major pillar for the domestic labor market.

May 12, 2012

Stable Development of Austrian Economy

The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.

May 10, 2012

Leitl: „EU Needs Budget Consolidation and Growth Measures“

The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.

May 5, 2012

Austrian Unemployment Still Lowest in EU

The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.

May 2, 2012

Unemployment Rises by 6.7%

In Austria, the number of unemployed persons rose up to 321,817 in April. Simultaneously, employment reaches a new record level.

May 1, 2012

Pressure on Medium Income Earners Rising

The Austrian Chamber of Labor warns that the number of people who do not get by with their income anymore rose to 60%.

April 28, 2012

Austria Wants to Raise Efficiency in EU Funds

The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.

April 25, 2012

Labor Costs: Austria in the Upper Third

Hourly labor costs ranged between € 3.5 and € 39.3 in the EU27 Member States. In Austria, labor costs reach € 29.20.

April 24, 2012

Maastricht Criteria: Austria in the Middle Field

In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.

April 23, 2012

Chemical Industry: Workers Want 5.8% Wage Increase

The Austrian chemical industry negotiates the collective agreements. Before the third negotiation round started, the workers put pressure on the employer side.

April 18, 2012

Labor Time: Resistance Against SPÖ´s Plans

The governing Social-Democrats want to reduce labor time. Industrialists, the Chamber of Commerce and FPÖ decline that idea.

April 17, 2012

Austrian Economy on Moderate Growth Course

Bank Austria Forecasts table growth until summer followed by chances of an upswing. Austria could achieve GDP growth of 0.8 percent in 2012 and 2 percent in 2013.

April 16, 2012

Call for Structural Reform of Social Policy

The Federation of Austrian Industries reaffirms the high non-wage labor costs and intends to raise efficiencies in the health sector. The retirement age would be too low.

April 12, 2012

Psychic Diseases: Costs of € 3.3bn

The number of staff away sick in Austria rose by 100% since 1995.

April 11, 2012

Competitiveness: Austria Among Top Five

Concerning its competitiveness, Austria ranks fifth among the 27 EU members.

April 6, 2012

EU: Austrian Labor Costs Rose Decently

Since 2000, Austrian labor costs rose by 40%. Among the 27 member states, Austria ranks 22th.

April 5, 2012

Austrian Industrial Sector Faces Uncertainties

The Austrian industries expect a stagnation of business. Economic growth is low, export growth will be decent. Moreover, the order stock is declining.

April 4, 2012

FDI: Cautious Optimism in Slovakia

Austrian and German investors are still optimistic concerning Slovakia´s economy. The majority expects a slight acceleration of Slovakia´s economy growth.

April 3, 2012

Austrian Unemployment on the Rise

Within the Eurozone, Austria´s unemployment rate is still the lowest at 4.2%. Against March 2011, domestic unemployment rose by 4.4%.

April 2, 2012

Austrian Industry Running Increasingly Smoothly

The Austrian industry has potential: positive surprise still possible despite tight earnings situation caused by high commodity prices. Export orders rise strongly again.

March 30, 2012

BNP: Austrian Economy Recovers

GDP in Austria contracted slightly in Q4 2011 as exports fell, but weak growth is likely to have resumed at the beginning of 2012, says BNP Paribas.

March 26, 2012

2,000 New Jobs Created by Foreign Enterprises

The Austrian Chamber of Commerce stressed the importance of foreign direct investment in Vienna. Last year, 126 foreign enterprises came to Vienna.

March 22, 2012

Unemployment of Older Aged Workers Increases Disproportionately

The Austrian labor market registers a rise both in employment and unemployment of persons aged beyond 50. Especially unemployment of male persons aged beyond 50 rises dramatically.

March 17, 2012

Increasing Importance of Environmental Sector

In 2010, the Austrian environmental goods and services sector continued its growth, 7.9% more employees.

March 15, 2012

Working Time: 32% Work Longer than Stipulated

A study of the Austrian working atmosphere index shows that a substantial part of Austrian workers works longer than 40 hours per week.

March 10, 2012

„The Public Sector Does not Get Enough“

Klaus Pöttinger, President of Upper Austria´s IV takes Switzerland as model. Taxes would be too high, efficiency of the public sector is too low, he says.

March 9, 2012

Leitl: „Austerity Package Is Not Enough“

For Christoph Leitl, the President of the Austrian Chamber of Commerce (WKÖ), the recently resolved austerity package does not contain the essential reforms.

March 9, 2012

WIFO Forecasts Economic Stabilization

The Austrian Institute of Economic Research (WIFO) expects a slight improvement in the Austrian economic development. Upward indicators become more significant.

March 9, 2012

Banks May Face Strikes

The trade union of bank employees calls for a 4.9% salary increase. Employers reject this claim.

March 6, 2012

Austerity Package: Sorger Misses Reforms

The President of the Federation of Austrian Industries (IV), Veit Sorger, sees a massive lack in structural reforms. The austerity package is a “missed opportunity”.

March 3, 2012

Rise in Austrian Unemployment Rate

At the end of February, 380,000 persons were unemployed. This is a rise of 5.2%. At the EU level, Austria´s unemployment rate is still the lowest.

March 1, 2012

Austrian Industry: „Austerity Package Brings Excessive Rise in Labor Costs“

For the Federation of Austrian Industries (IV), the austerity package causes an enormous rise in labor costs for entrepreneurs.

February 25, 2012
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