Unemployment

Real Wage Loss in Austria This Year Significantly Above EU Average

Austria will have to reckon with heavy losses in real wages in the future. This was the result of a recently published analysis, which predicted that Austria would occupy one of the weakest positions in the EU. Read on if you want to know how much money will be left over from your income in the future.

August 10, 2022

Economic Outlook for Austria until 2024

Strong economic rebound amid high uncertainty about impact of Covid-Omicron variant. Find out what the economic future holds for Austria until 2024.

February 2, 2022

Inflation in Austria: Government Approves Relief Package to Deal with Rising Energy Prices

Chancellor Nehammer and Vice-Chancellor Kogler held a summit with energy suppliers and assembled a relief package to help combat inflation. Learn what's in the relief package and who will benefit from it.

January 28, 2022

AMS to Provide Support as Companies Struggle to Fill Job Vacancies

Austria's public employment service (AMS) announced that it will be supporting companies with the "AMS Business Tour" initiative. Teams from the AMS will help companies in finding personnel, as the latest employment figures from the AMS show that three out of ten job vacancies currently cannot be filled even after three months of searching. Read more about this new initiative and some of the latest numbers from the AMS.

October 11, 2021

Weekly Briefing: End of Lockdown for Vienna and Lower Austria Stirs Up Hope

Now Vienna has also officially confirmed that on May 19 the long-awaited opening will take place. The end of the lockdown in Vienna and Lower Austria and nationally reaching 3 million Covid-19 vaccinations are not the only indications that the Austrian economic recovery gets off the starting blocks. Find out more about this week's developments.

May 6, 2021 · Updated: May 6, 2021; 17:05

Unemployment Decreases: Austria's Economy Trends Upwards

Austria's economy and employment show signs of recovery. The recent unemployment figures show a decline of about 8.7 percent in April compared to the previous month. Compared to last April, which was one of Austria's first months in the midst of the pandemic, this is a decrease of 32 percent.

May 4, 2021

Austrian Unemployment Decreases in March

The number of unemployed Austrians has decreased significantly in March compared to the previous month. About 56,000 fewer people have been reported unemployed, while the number of people in training at the Austrian Arbeitsmarktservice (AMS) has increased. This is likely due to the recent measure, which provides training priorities in areas where there is a particular demand for qualified workers.

April 7, 2021

Extension of Re-Employment Promise in Austria Gives Planning Security

In order to alleviate the hard-hit tourism industry, Austria's Labor Minister Martin Kocher and Tourism Minister Elisabeth Köstinger have announced to further extend the re-employment promise until the end of official closures. This gives the respective businesses more planning security, since they will not have to worry about their well-trained employees.

March 31, 2021

Austria's Labor Minister Demands More Education and Training Opportunities

At an informal Employment and Social Affairs Council, Austria's Labor Minister Martin Kocher and his EU counterparts were discussing employment and social policies that address the recovery from the current crisis. Kocher emphasizes the need for education and training opportunities, which will proof to be useful for getting back to economic strength.

March 17, 2021

International Women's Day 2021: Gender Pay Gap in Austria Still Significant

Since the International Women's Day is on March 8, Statistics Austria has revealed some data that show the still significant differences between women and men in Austria's workforce. On average, women earn around 14 percent less than men and only 3.8 percent of employed women hold managerial positions, compared to 8.1 percent of employed men.

March 5, 2021

Deadline for Austrian "Reemployment Promise" Gets Extended

To further support the hard hit Austrian economy, the Minister of Labor and Minister of Tourism have decided to extend the deadline for the so-called "reemployment promise". This allows employers to lay off their employees and agreeing to re-hire them, once the sector is allowed to open up again. The affected employees receives unemployment benefits without any placement activities by the Austrian Arbeitsmarktservice.

February 15, 2021

Austria's Unemployment Rate at 11 Percent

Crisis-related unemployment, especially due to the lack of a seasonal start in tourism, has a huge impact on the unemployment rate in Austria at the moment. More than 500,000 people are currently seeking for jobs, which is an increase of more than 63,000 compared to the previous. month.

January 5, 2021

Hahn: European Commission Is Entering Top League of Global Financial Markets

With the issuing of social bonds worth EUR 17 billion, the European Commission tries to safeguard jobs and prevent the economy from collapsing in its member countries. Commission President von der Leyen as well as Austrian EU Budget Commissioner Hahn are pleased by this important step.

October 22, 2020

Public Deficit Amounts to 9.4%, Public Debt to 82.6% of GDP in First Half Year of 2020

Austria's government has lost its successful path to a lower public deficit due to Covid-19. In the first half year of 2020, the public deficit amounted to 9.4% while public debt rose to 82.6%. The outlook for the second half of 2020 is not much better and an increase of public debt is expected.

September 30, 2020

Austrian Economy Slumped by 12.1% in Q2 2020

The newly published report by Statistics Austria shows a massive economic slump in the second quarter of 2020. Austria's GDP declined by more than 12 percent compared to the second quarter of 2019 while expectations for the last two quarters of the year are not much better.

September 28, 2020

Sacher Hotels Lay Off 140 Employees

The dramatic situation in Austria's tourism industry does not even spare one of the most prestigious hotels in Europe. The Sacher Hotels, located in Vienna and Salzburg, have announced the dismissal of 140 employees.

September 15, 2020

2,300 Potential Job Losses in Steyr

The German truck and bus subsidiary MAN announced that 9,500 jobs are in danger due to reorganization of the company. 2,300 and therefore the total workforce of the production site in Steyr, Austria might be included in the cut.

September 11, 2020

WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge

The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.

September 7, 2020

Austrian Technology Company Kapsch Will Cut Around 400 Jobs

Vienna-based company Kapsch is likely to cut about 400 jobs globally in the near future. The company has commenced a transformation program that will allow it to be successful in the future.

September 3, 2020

Dombrovskis in Alpbach: Economy Must Serve All People

Executive Vice-President of the European Commission Dombrovskis highlights the importance of the young generation in rebuilding the economy after Covid-19. Unemployment needs to be tackled and sustainability and digital innovation will be supported.

September 2, 2020

Higher Unemployment Rate in Euro Zone, Decreasing Numbers in Austria

Even though many EU Member States have loosened Covid-19 containment measures, unemployment increased once again in the euro zone. Austria's rate decreased slightly from June to July 2020.

September 2, 2020

Austrian Chamber of Labour: EUR 315 Million Could Create 75,000 Jobs

According to an expert of the AK Austrian Chamber of Labour, 75,000 jobs can be created with the spending of EUR 315 million. This might be worth a thought in an economic challenging situation due to Covid-19.

August 18, 2020

Federal Chancellor: "The situation is still serious"

Austrian government presents details of the aid package designed to save jobs and businesses.

March 26, 2020

Voestalpine: Short-time Work in 50 European Subsidiaries

The biggest economic challenge of the past decade represented by the coronavirus pandemic has hit the Austrian technology group Voestalpine hard. Short-time work in Austria and other European countries such as Germany, Belgium and France is unavoidable due to the slump in demand.

March 24, 2020

Hungary: Clear Victory for Orban

Today, Hungary has held parliamentary elections. Despite controversial and radical reforms, Prime Minister Orban was confirmed.

April 6, 2014

Fitch Keeps Slovak Rating Unchanged

Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.

March 1, 2014

Bosnia: The Calm After the Storm

The protest movement has lost momentum. The future of Bosnia is more uncertain than ever before.

February 15, 2014

Bosnia: Protests Go On

After a number of political step-downs, the protests in Bosnia do not come to an end. The protest movements wants to take back controversial privatizations and the state presidium to step down.

February 9, 2014

Bosnia: Protest Movement Calls for Revolution

After the most serious riots since the end of the civil war, the violence has stopped for the time being. Nevertheless, the mood is still more than tense.

February 8, 2014 · Updated: February 8, 2014; 13:33

Bosnia: Protests Turn Into Violence

Due to the extremely tense social situation in the Balkan country, first protests turned into violence.

February 7, 2014

Bucharest: Fitch Affirms Sovereign Debt Rating

The U.S. rating agency Fitch has kept the long-term issuer default rating at “BBB-“. The outlook remains stable.

February 3, 2014

Austria: Massive Increase in Unemployment

At the beginning of February, 450,000 Austrians were jobless. In absolute terms, is a new record high.

February 3, 2014

CESEE: Recovery Remains Modest

The European Bank for Reconstruction and Development (EBRD) has published a report on the regional economic prospects. The economic recovery in CESEE remains fragile.

January 23, 2014

Polish Government to Focus on Social Security

According to Poland´s Prime Minister Donald Tusk, the reduction of unemployment and the improvement of social security will be priority issues in 2014.

January 13, 2014

Czech Economy: Good Prospects for Sustainable Recovery

The Czech economy is expected to return to growth already in the first half of 2014. Growth will not be only based on exports.

January 10, 2014

Southeastern Europe Endangered of Civil Unrests

According to the Economist Intelligence Unit, several CESEE countries may face civil unrests in 2014. In particular, Southeastern Europe is in the danger zone.

January 4, 2014

„Such Growth Rates Will not Return“

In an interview with the Austrian daily “Presse”, economist Karl Aiginger explains that the worst should be over. The reform pressure on the Austrian government is enormous.

December 30, 2013

Bulgaria: S&P Downgrade Criticized Sharply

Bulgarian Minister of Economy Dragomir Stynev does not agree with S&P´s view on Bulgaria´s creditworthiness.

December 16, 2013

Poland: Growth May be Higher than Projected

Poland´s new Finance Minister Mateusz Szczurek thinks that the growth estimations for 2014 may be too cautious.

December 12, 2013

Poland: Unemployment Grows Further

In November, the unemployment rate came at 13.2%. The labor market has the worst behind, the government says.

December 11, 2013

Slovakia: Economy Accelerates Slightly

In the third quarter of 2013, the Slovak GDP year-on-year growth was up to 0.9%, according to the Slovak Statistical Office.

December 8, 2013

Austria: Decent Economic Outlook

Despite an economic acceleration, the macro-economic frame conditions remain difficult in 2014. A major risk factor is the fiscal situation.

November 24, 2013

Austrian Labor Market Continues Downward Trend

Since mid-2012, the Austrian labor market conditions are worsening. Unemployment is going up, the number of vacancies are going down.

November 4, 2013

Czech Growth Outlook Revised

The Czech Ministry of Finance has improved its economic forecasts.

November 1, 2013

Hungary: Unemployment Continues Downward Trend

In September, Hungary´s unemployment rate was down by 0.6 percentage points. The number of jobseekers is 8.1% less than in 2012.

November 1, 2013

Czech Unemployment Stable

In the last twelve months, the Czech labor market conditions remained almost unchanged. Employment was up slightly, unemployment was flat.

November 1, 2013

Bulgaria: Unemployment Anticipated to Decrease

Regarding the economic development in 2014, Bulgarian Industrial Capital Association demonstrates optimism.

October 31, 2013

IMF on Slovenia: “Cleaning Up Banks is the Priority”

The IMF urges Slovenia to restructure its ailing banking sector. Slovenia faces expensive bank aid-programs.

October 29, 2013

Southeastern Europe: Dramatic Labor Market Conditions

In Southeastern Europe, the labor market conditions are similarly bad as in Southern Europe. Above all, youth unemployment is extremely high.

October 22, 2013

Bulgaria: FDI Inflow Shrinks Drastically

In the first eight months of 2013, foreign direct investments fell by more than 51%. Without impulses from foreign investors, the country will not return to growth.

October 21, 2013