Unemployment numbers have hardly changed over the past two weeks – but there was an increase from the previous year. In mid-June, 309,980 people (+9,249 people) were registered with the Public Employment Service (AMS) – 240,142 of them looking for a job, 69,838 in training. The bankruptcy of Kika/Leiner will not hit until the end of July.
The opening of the restructuring process without self-management for the Kika/Leiner furniture chain is “undoubtedly a major challenge for those affected and their families,” it said on Tuesday. of the Ministry of Economic Affairs. As has only been known for a week, the company wants to close about half of all branches and lay off 1,900 employees by the end of July.
According to Labor Minister Martin Kocher, the AMS is already in close contact with the company to find individual solutions and will provide “central contacts who will support the placement of the individuals involved”.
“Of course, the insolvency of a company of this size also has an impact on the location and the Austrian national budget. I therefore expressly welcome the fact that the Finanzprokuratur is now going to investigate the exact circumstances,” said Kocher.
More looking for a job, less in training
In mid-June there were 1217 fewer participants in AMS training courses than a year ago. There were 10,466 more people actively looking for a job.
The background to this is the economic situation that has cooled down after the record year 2022, the statistical registration of displaced Ukrainians and various other effects affecting the labor market, such as higher raw material prices in the construction sector, Kocher explains.
The minister stands up quietly
“Unemployment is therefore at a similar level in mid-June as at the beginning of the month. The slight increase compared to last year, which started a few weeks ago, continues, but is much lower than many experts feared,” the minister puts it in perspective.
The comparison with previous years is still positive. “It is gratifying that unemployment is currently 21,186 people lower than in mid-June 2019, so before the start of the corona pandemic and the associated restrictions on the economy.” Also compared to the economically very challenging years 2020 (minus 177,761) and In 2021 (minus 61,411), unemployment is currently at a significantly lower level. The recently slightly increased OECD economic forecast for Austria confirms the location’s stability and crisis resilience. Despite the volatile economic conditions, the domestic economy has recently returned to moderate growth.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
