Austrian companies are facing a shortage of skilled workers and at the same time are increasingly being forced to cut jobs. Almost
20 percent of mid-sized companies plan to cut jobs in the coming months – a development reminiscent of the 2009 financial crisis. What needs to be done to tackle this crisis and stabilize the labor market?
According to a survey by EY, many companies consider the economic situation to be serious. The labor market situation is deteriorating dramatically in several Austrian regions. Many companies, especially in Carinthia, Lower Austria, Upper Austria and Salzburg, are planning to reduce their workforce. Despite these negative developments, some regions, such as Vienna, are hoping for job growth.
At the same time, many companies suffer from a shortage of qualified specialists. Two-thirds of the companies surveyed see this shortage as the biggest risk to their growth. The shortage of skilled workers is mainly exacerbated by the low willingness to work full-time and demographic changes. Companies in Carinthia and Burgenland in particular have difficulty finding suitable staff.
What long-term solutions do you see to combat the shortage of skilled workers in Austria? What should companies do to attract and retain qualified specialists? How do you experience job losses in your industry? Share your thoughts with us and the community in the comments!
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.
