Economic dulls press on the job market: 384,000 without a job in Austria!

Economic dulls press on the job market: 384,000 without a job in Austria!

The dark clouds above the Austrian job market have continued to thicken! At the end of November 2024, the labor market service (AMS) registered around 384,000 unemployed people or in training. This corresponds to an alarming increase of over 31,400 people compared to the same month - an increase of 8.9 percent! This was shared by the Ministry of Labor and Economic Affairs.

The unemployment rate ruses to 7.1 percent high, an increase of 0.6 percentage points. The reason for this worrying development can be found in the deteriorating global economy, as the Austrian Minister of Labor Martin Kocher (ÖVP) states. He explained: "The worldwide economy is weaker than expected in the forecasts, which is not without consequences even on the Austrian labor market." Austria, as an export-oriented country, suffers particularly strongly from the weak global demand and the low growth in Germany, as "https://www.salzburg24.at/news/oesterreich/arbeitslos-in-oesterreich-im-november-gegege-169445284" Salzburg24 In addition.

economic flaut adds the labor market

The labor market numbers show that the economic flaut is not only a temporary phenomenon, but also has a serious effect on employment in Austria. The consequences cannot be overlooked: the number of unemployed continues to grow, and the forecasts for the coming months are anything but rosy. In view of this development, politics demands that the focus on measures to ensure stability and jobs in the country. Kocher points out that countries with a lower export share can better get through the crisis. In the meantime, the unemployed in Austria only has hope for a rapid turn in economic growth, as well as Krone reported.