The economic turbulence in Europe as a result of the war in Ukraine has not stopped the positive development on the labor market in Austria for the time being: the number of unemployed and training participants has fallen by 1,622 compared to the previous week – there are again less than 300,000 job seekers for a long time . Currently, 298,483 people are registered as unemployed or in training with the Public Employment Service (AMS).
In Germany, 228,038 people are unemployed and 70,445 people follow AMS courses. The pre-registrations for short-time working currently amount to 28,083 people. “It is remarkable that the labor market is in such a robust condition and is highly resilient to the economic turmoil caused by the Russian war in Ukraine,” said Labor Minister Kocher (ÖVP) on current labor market data. For the penultimate week of June, the OECD GDP indicator for Austria shows economic growth of 4.7 percent compared to the same week last year.
The economic recovery after the Corona crisis has been causing a sharp drop in unemployment and short-time working for months, and unemployment is at its lowest level in 14 years. However, the clear recovery in the labor market after the corona-related malaise makes it difficult for many companies to find staff, especially in the hospitality, hotel, industry and IT. Statistics Austria last week reported the first quarter of 202,700 job openings, a record job opening survey since the start of the time series in 2009.
Source: Krone
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