The unemployment rate in May has risen to 6.9 percent. Women, young people and people with foreign citizenship were mainly affected. A total of 375,347 people were looking for a job.
Youth unemployment (plus of 10.9 percent), the unemployment of women (10.5 percent compared to 6.9 percent in men) and people with non-Austric citizenship (9.8 percent compared to 7.6 percent in people with Austrian citizenship) are above average. The number of people who has been registered at the Labor Market Service (AMS) for at least one year has also increased by twelve percent and was therefore around 91,000.
From an industry, the generation of goods/industry (13.8 percent), health and social affairs (twelve percent) and trade (9.3 percent) in particular was influenced by the increase in unemployment in May.
More older employees in jobs
Almost four million people worked in May in May. According to the Ministry of Labor, there was the clearest growth among the more than 50. “(…) We have to use the potential of these employees even better. Older employees bring valuable experience and stability on the labor market. We will therefore continue to force our offers to improve employment for the older generation,” said Labor and Social Affairs Schumann.
In doing so, they referred to projects such as the “Aktion 55Plus”, with which older long -term unemployed from 2026 must be again integrated into the labor market. In general, the number of employees in Austria has also increased slightly in May.
The unemployment figures in Austria have increased since April 2023. For this year, the economic researchers from Wifo and IHS still expect a third year of recession and more unemployed. “As long as we have no substantial growth, unemployment will not decrease with increasing employees,” AMS board member Johannes Kopf told the current data.
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.
