The ongoing downturn in Austria’s industrial and construction sectors puts pressure on the job market. As of the end of August, 352,256 people were registered as unemployed or enrolled in training programs with the Public Employment Service (AMS). This includes 287,458 individuals who are unemployed and 64,798 participating in AMS training initiatives.

According to data released by the Ministry of Labor on Monday, the number of unemployed individuals and AMS training participants has risen by 31,497 compared to the same period last year.

“The unemployment rate at the end of August stood at 6.7 percent – still the third-lowest unemployment rate in the last ten years,” remarked Labor and Economic Affairs Minister Martin Kocher (ÖVP) during a press conference in Vienna. He emphasized that the job market remains “relatively stable despite economic challenges.” However, Kocher acknowledged that the situation is not easy for an export-driven economy like Austria’s, particularly as Germany’s economy is currently facing difficulties.

The Ministry of Labor also reported that the number of people employed in Austria reached a record high of 4,009,000 in August. “Never before have so many people been employed at the end of August,” noted the Labor Minister, highlighting the positive side of the employment figures.