Weak economic development continues to increase unemployment in Austria. At the end of June, more than 360,000 people were registered for the Labor Market Service (AMS) unemployed or in training. Compared to the same month last year, the plus is 7.8 percent.
In total, the unemployment rate was 6.8 percent in June. The economic researchers of IHS and Wifo recently revised their predictions for the Austrian economy and no longer expect a third year of recession. However, employment is still falling that unemployment in Austria has increased considerably since April 2023, said the head of Johannes Kopf of the Labor Market Service (AMS). In June fewer people were employed from a year ago.
According to AMS, the production of goods and health and social affairs was mainly influenced by the increase in unemployment. In the comparison of the federal state, it mainly influences Upper Austria and Salzburg. Carinthia, Burgenland, Tyrol and Lower Austria have the least increase. According to groups, unemployment has increased, especially in women, migrants.
Unemployment is therefore distributed according to groups:
More money for AMS
“These developments underline the relevance and necessity of active labor market policy measures to stabilize the labor market,” said Labor Minister and Social Affairs Korinna Schumann (Spö) in a broadcast on Tuesday. The Board of Directors of AMS recently decided to “increase the AMS finance budget” in 2025 with plus 40 million euros “.
“(…) If even the minister admits that the active labor market policy needs to stabilize the labor market, the question arises: when did Minister Schumann ultimately establish a real labor market policy? For example, the rising unemployment among migrants is currently” massively under pressure “the welfare state.
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.
