Increase in unemployment in Lower Austria: The facts at a glance!

Increase in unemployment in Lower Austria: The facts at a glance!

The labor market in Lower Austria is showing alarming developments: so far in 2024, unemployment has climbed by 8.8% compared to the previous year OTS reported. Of particular concern is the increase in the number of unemployed, which stood at 42,266 people at the end of November 2024, an increase of 7.3% year-on-year. The total number of job seekers, including training participants, is 52,228, showing an increase of 7.2% compared to the previous year. The current unemployment rate in Lower Austria of 6.0% is therefore significantly above the 2023 value.

Weak economy is making itself felt

The economic situation is tense, which is now also having an impact on the labor market: Lower Austria has been recording steadily increasing unemployment for a year and a half. At the end of October 2024, 41,067 people were registered as unemployed, which corresponds to an increase of 7.6% compared to the same month last year MyDistrict. All age groups are affected, especially young people under 24, where an alarming 13.0% increase in unemployment has been recorded. Many sectors are suffering from the tense economic situation: unemployment rose by 12.6% in goods manufacturing, by 9.6% in construction and by 9.3% in catering.

The AMS Lower Austria has already successfully integrated 72,364 job seekers into the labor market this year, but the forecast remains bleak, especially in the export-oriented industry. It is feared that unemployment could continue to rise in the coming year, which the State Labor Market Councilor Sandra Kern underlines in view of the ongoing economic difficulties. Despite a large number of vacancies - the current level is 13,681 reported vacancies - there appears to be a mismatch between the qualifications of job seekers and the requirements of employers.