The positive development in the Austrian labor market continued in July, despite the war in Ukraine and record inflation. At the end of the month, 296,647 people were registered with the AMS as unemployed or in training – 47,292 fewer than in the same month last year, the Ministry of Labor announced Monday. However, the number of vacancies is still high, at the end of July 137,826 and therefore only marginally less than in June.
The unemployment rate stood at 5.6 percent, the lowest figure in July since 2008. “In a long-term comparison, the labor market has proven to be very robust,” said Labor and Economy Minister Martin Kocher (ÖVP). However, the situation could worsen in the coming months. It can be assumed that “the Russian war of aggression in Ukraine and the economic turmoil it has caused will have an increasingly negative impact on the labor market,” Kocher said.
At the end of July, 6381 people were pre-registered for short-time working. “Compared to the previous month, this represents a decrease of 18,055 people in pre-registrations for short-time working. The decrease is largely due to the newly started phase of short-time work, which brought stricter application requirements at the beginning of last month,” says Kocher.
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.
