Employers celebrate Labor Day: How entrepreneurs secure prosperity!

Employers celebrate Labor Day: How entrepreneurs secure prosperity!

In Austria, “Labor Day” is traditionally celebrated on May 1st, which focuses on the importance of work and jobs. April 30, as “Employers' Day”, is intended to pay special attention to the role of entrepreneurs in employment, prosperity and social security. This is the 13th time it has been celebrated to highlight the central role of entrepreneurs. oe24 reports that jobs are essential foundations for economic progress.

One-person companies (EPUs) in particular make a significant contribution to the economy. These companies not only create their own jobs, but are also characterized by courage, innovative strength and commitment. For example, in Upper Austria there are around 88,944 entrepreneurs who have created 504,546 jobs. There are also 2,660 companies that export goods and services worth 50.1 billion euros. For every 1 billion euros exported, around 10,000 jobs are secured.

The situation in the federal states

There are over 38,000 companies operating in Carinthia that employ more than 190,000 people. In the federal capital Vienna, around 32,000 family-run companies employ around 460,000 people, while these companies have an annual turnover of 142 billion euros. This once again underlines the relevance of family-run companies for the national economy.

In the context of the German labor market, Dr. Rainer Dulger, president of the employers, on the German Employers Day on October 22, 2024, the challenges that companies in the Federal Republic are faced with. According to a survey by Forsa, 52% of entrepreneurs perceive the economic conditions as inadequate, while 29% even rate them as bad. Over 80% of the companies surveyed expressed concern about current developments.

Dulger calls for a more business-friendly environment in order to unleash the economic giant Germany again. He highlights that problems such as rising unemployment and increasing regulation are weighing on the economy. The shortage of skilled workers in key sectors such as IT, engineering and care compounds the challenges, while the unemployment rate in Germany will be around 6% in 2024.

The labor market and its challenges

The relationship between the labor market and the economy is central to modern economies. A high employment rate not only promotes consumption, but also ensures stable tax revenues. However, high unemployment figures show that economic performance is at risk. Structural changes and demographic change in particular make it necessary to improve the labor supply. Economic check describes the challenges that arise from precarious employment relationships and the need to integrate older workers.

Programs to secure skilled workers are becoming increasingly important, with companies having to increase their attractiveness through flexible working time models and family-friendly offers. “Green jobs” and the transformation to a sustainable economy also play a central role in the future of the labor market. The minimum wage was raised to 12.41 euros per hour in 2024 to promote fair working conditions.

In view of these diverse challenges, it is crucial that both politics and business develop innovative solutions to meet future labor market requirements and ensure social stability.