Unemployment in Austria Rises to 384,000 People in November

Unemployment in Austria Rises to 384,000 People in November

APA/GEORG HOCHMUTH

The economic slowdown continues to affect the Austrian job market. By the end of November, around 384,000 people were registered as unemployed or in training with the Public Employment Service (AMS), an increase of over 31,400 individuals compared to the same month last year, reflecting an 8.9 percent rise. The unemployment rate rose by 0.6 percentage points to 7.1 percent, according to the Ministry of Labor and Economics on Monday.

“The global economy is weaker than expected in the forecasts, and this has consequences for the Austrian job market. As an export-oriented country, we feel the weak global demand and low growth in Germany more than countries with lower export ratios,” commented Labor Minister Martin Kocher (ÖVP) on the situation.

The largest increase in the number of unemployed and training participants was registered in the manufacturing/industrial sector, with a rise of 16.2 percent, followed by retail (up 10 percent) and transportation and logistics (up 9.5 percent). The growth was smaller in the struggling construction sector (up 4.4 percent).

By federal state, the largest increase was seen in industrial-heavy Upper Austria (up 15 percent), where the bankruptcy of KTM, affecting 3,600 employees, has made headlines. Significant increases were also recorded in Styria (up 11.7 percent) and Salzburg (up 10 percent). Following that were Vienna (up 8.1 percent), Vorarlberg (up 7.8 percent), Burgenland (up 7.6 percent), Lower Austria (up 7.2 percent), and Tyrol (up 6 percent). The smallest increase was in Carinthia (up 5 percent).

The weak economic development is also evident in the job market. At the end of November, the AMS reported nearly 83,000 open positions available immediately, a decrease of 12.8 percent compared to the same month last year. The Austrian Economic Association (Wirtschaftsbund), which monitors all job portals and typically records more job postings than the AMS, registered around 152,000 vacant positions, also showing a slight decrease from last time.

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