The weakening economy increases unemployment. At the end of February, nearly 430,000 people were unemployed at the Labor Market Service (AMS) or in training. This is a plus compared to the previous year.
According to the Ministry of Labor, the figures have increased since April 2023. At the end of February the unemployment rate was 8.1 percent. 347,424 people were registered unemployed, 82,516 in training. Almost 8,000 of them are looking for an internship. This is more than there are open learning places (7616).
According to the Viennese Chamber of Labor, young people and women are mainly affected by unemployment. Insolvians such as those of KTM, Kika/Leiner and Palmers would lead to massive waves of termination.
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.
