At the end of February, the unemployment rate in Austria was 7.6 percent. This is a slight decrease compared to the previous month (8.1 percent). According to Minister of Labor and Economy Martin Kocher (ÖVP), the development among women over 50 is particularly encouraging.
At the end of February, a total of 402,297 people were registered without a job, the majority of whom were unemployed (321,655) and a smaller number in training (80,642). “At the end of February 2024, more people will be working than the year before. The relatively good labor market situation for women over 50, who represent an important target group of active labor market policies, is encouraging. It is a clear sign that the instruments of active labor market policy are working,” Minister Kocher said in a press release.
More and more young people are affected
While the unemployment rate for women over 50 has remained constant compared to the previous year, the number of unemployed people with a migrant background and the number of youth and young adults under 25 have increased. “We must inspire young people for the jobs we need for social-ecological restructuring – for example with a training offensive for thermal renovation. To achieve this, sufficient training places must be created that convey the latest technology. Both schools and companies are challenged here,” said Renate Anderl, chairman of the Chamber of Labor.
These sectors have many vacancies
There is currently a surplus of apprenticeships in most states, Kocher says. ‘Currently, qualified workers are being sought in almost all sectors.’ The Economic Association’s jobs monitor recorded 178,541 vacancies in February. Most of these are in the areas of office, marketing, finance, law and safety (27,192), followed by construction, construction-related industries, timber and construction technology (19,954) and electrical, electronics, telecommunications and IT (18,148). ). Significantly fewer workers are needed, for example in the textile, clothing, fashion and leather sectors (161) or in the mining, raw materials, glass, ceramics and stone sectors (250).
“We see that after the economic downturn the demand for workers is increasing again and the labor shortage is unfortunately not a short-term phenomenon, but will accompany us in the coming years and continue to increase,” said the Secretary General of the Economic Association. Kurt Egger in a press release. To curb the shortage, a reduction in indirect labor costs is also necessary.
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.
