At the end of June, 307,732 people were registered as unemployed throughout Austria. Of these, 239,301 were unemployed and another 68,431 were undergoing training at the Public Employment Service (AMS). This means a decrease compared to the same month last year. The unemployment rate was 5.7 percent – up from 5.9 percent at the end of May.
Unemployment has risen slightly compared to a year ago. At the end of June 2022, the unemployment rate was 5.5 percent. The number of unemployed and training participants rose year on year by 9,330 people – this corresponds to an increase of 3.1 percent. The unemployment rate actually increased by 4.5 percent year-on-year, while the number of trainees decreased by 1.5 percent.
Kocher: ‘Unemployment at a lower level than in 2019’
“Nevertheless, unemployment is currently still at a lower level than, for example, in 2019 – so before the start of the corona pandemic and the associated effects on the economy,” said Labor Minister Martin Kocher (ÖVP).
“Against the background of the very weak economic development, this unpleasant increase can even be described as moderate,” said AMS boss Johannes Kopf.
Number of vacancies decreased
The number of vacancies has also fallen year on year. Immediately available jobs were down 16 percent. However, since June 2022, the number of trainees in companies has increased – there was a 3.9 percent increase to 30,585 people.
Unemployment rate: Austria below the EU average
According to the European calculation method, the unemployment rate was 4.6 percent at the end of June. This puts Austria below the EU-27 average of 5.9 percent. The seasonally adjusted youth unemployment rate was 10.3 percent (EU average: 13.9 percent).
The momentum institute, which is close to the union, calculated in a broadcast on Monday that the unemployed had suffered a sharp fall in real income last year due to inflation. Unlike other social benefits, unemployment benefits are not adjusted for inflation. Those who lost their job in June 2022 have suffered an average of 14.8 percent in purchasing power since then. But only part of this is attributable to increased prices: more than half (eight percentage points) of the loss is attributable to the move to emergency aid.
Source: Krone
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