The economic engine is sputtering, the gaps in the order books are getting bigger! All this ensures that companies save money and also take a good look at their staff. More and more people under the age of 25 have to leave. Because: for companies, the price-performance ratio counts again.
Work where and when you want; Working part-time and earning full-time: these are two of the examples that have set a precedent in the labor market in recent years. In the battle for the brightest minds, companies were willing to adapt – and in some cases showed a new generosity that surprised many. But what can you do to find workers in a hungry job market?
An increase of more than 900 people since May
In December 2023, the economic engine sputtered. Inflation combined with reduced consumer demand and increasing uncertainty are leaving their mark on the order books – and also on the statistics of the Upper Austrian Public Employment Service. In November, 30,002 people were looking for a job in our state, more than 4,000 of whom were under 25 years old. Since May alone, this represents an increase of 959 people in the U-25 category.
“In some cases, people with good education are affected here,” says Iris Schmidt. The director of AMS Upper Austria sees a change in the labor market: “Many employees made very high demands on the companies, people were hired under these conditions – but now they are clearly being separated from them again.”
“This year the tide has turned”
“The labor market is currently not a one-way street in which everything goes to the young,” says recruitment expert Bettina Kern. Claudia Kraupatz, HR consultant at Iventa, says: “The labor market has been very overheated in recent years. A job seeker had more options and could therefore make more demands. This high phase has leveled off again to a normal level.” Kern becomes a little clearer: “This year the tide has turned. I don’t think everyone has registered that yet.”
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.
