In European comparison, Austrians are the youngest to enter the working world. “Anyone born between 1974 and 1988 started working at an average age of 18.9,” says the employee-focused Momentum Institute, citing European Commission figures.
On average, 35-49 year olds started working at the age of 18.9. Employees in Austria therefore started two years earlier than is usual in the EU.
Italy is at the bottom of Europe with 22.9 years
At 22.9 years, Italy is at the bottom of Europe in the youngest generation surveyed.
Momentum: A later statutory retirement age is not necessary
“We keep hearing the demand that employees in Austria must work longer than 65 years. Meanwhile, they start working on average two years earlier than Europeans and four years earlier than Italians,” concludes the Momentum Institute. A later statutory retirement age is therefore not necessary.
Entry into working life has been postponed
Oliver Picek, chief economist at the institute, calculates from a broadcast: The oldest generation (65-79 year olds) started their first job in Austria at the age of 17.4. At that time, only workers in Portugal (16.6) and Ireland (17.3) started work earlier. On average, the older generation in the EU first started working at the age of 19.2. Dutch people started in this age category at the latest at the age of 22.3. “This means that access to employment has been reduced by almost a year and a half over the past decades,” says Picek.
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.
