For 22 percent of the population, housing costs are a major financial challenge; this figure is four percentage points higher than the year before. This is evident from the survey ‘This is how we feel today’, conducted by Statistics Austria on the consequences of social crises in the second quarter of 2023.
However, compared to the previous year, fewer people said their income had fallen. While in the second quarter of 2022, 37 percent indicated that their income had decreased over the past twelve months, this is now 32 percent of a total of 3,300 respondents between the ages of 18 and 74.
Inflation is the main reason for loss of income
This is a trend that will continue, says Tobias Thomas, Managing Director of Statistics Austria. Inflation remains the main reason for income losses. At the same time, 23 percent reported an increase in household income in the past twelve months.
Minister of Social Affairs Rauch sees relaxation
“Even though high inflation remains a challenge for many people, overall the social situation is easing,” said Social Affairs Minister Johannes Rauch (Greens). He sees the results of the research funded by the Ministry of Social Affairs and Eurostat as “a confirmation that the government measures are working”. Reliable support will also be assured next year, for example, the minister points out the valorization of family and social benefits and the extra monthly 60 euros per child for families at risk of falling into poverty.
Thomas emphasized that 17 percent of people still find it difficult to make ends meet. However, the stock remained virtually unchanged from the previous quarter and year. These problems were especially felt by people with a low household income (44 percent) and people from households affected by unemployment (42 percent).
The situation of single parents is worsening
The situation for single parents has worsened: in the first quarter of 2023, 30 percent of people in single-parent households struggled to make ends meet on their income, and 37 percent in the second quarter.
Poverty risk threshold
Dealing with unexpected expenses amounting to the at-risk-of-poverty threshold of 1,370 euros was a problem for 28 percent of respondents; the value remained unchanged from the previous year. 46 percent want to reduce spending on larger purchases. 41 percent want to spend the same amount on larger purchases, 14 percent want to spend more.
When it comes to the economic situation in Austria, respondents remain pessimistic: 60 percent expect it to worsen. However, this is an improvement, as the value was 80 percent last year. However, 10 percent were optimistic.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
