The trade, logistics and transport sectors are currently in particularly urgent need of personnel, just like industry. The situation on the labor market remains good as companies retain their employees despite the economic downturn.
Anyone looking for a job currently has the best chances of finding work in the trade, logistics and transport sectors: according to the Wirtschaftsbund’s jobs monitor, a total of almost 35,000 workers are needed there. At retail giant Spar, for example, “there are currently approximately 1,000 to 1,500 vacancies available throughout Austria,” says spokeswoman Nicole Berkmann. Spar also wants to hire 900 students this year.
At Rewe (Billa, Bipa, Penny etc.) there are “currently more than 3,000 vacancies open,” says spokeswoman Simone Hoepke. The food retailer is also looking to recruit 1,000 new apprentices.
According to the business association, 25,000 people are needed in the ‘office, marketing, finance, legal affairs and security’ sector, followed by the ‘construction, wood and construction technology’ sector. There is a high demand for mechanical engineers, electrical engineers and IT experts in the industry. In total, there will be more than 165,000 vacancies at the beginning of 2024.
This compared to 399,005 people registered as unemployed or receiving AMS training at the end of December – 6.4 percent more than in 2022. One reason for the increase: people displaced from Ukraine were included in the statistics. Unemployment among domestic residents increased by only 2.4 percent.
Last year, an average of 341,319 people were looking for a job (see graph). In 2023, unemployment was at the second lowest level in a ten-year comparison.
“It was an extremely unusual year on the Austrian labor market,” says AMS board member Johannes Kopf. “Despite the recession, the number of employed people grew by around 43,000 and many companies were still struggling with a labor shortage.”
Many companies are currently reluctant to reduce their workforce. They know that a recession is usually followed by an economic recovery – and they want to keep good employees in the company.
Like Wifo, Kopf assumes that “the economy will bottom out at the end of 2023.” Until there is a real turnaround, unemployment is likely to rise in the coming months, but only slightly.
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.
