Slight rise in unemployment in Austria – Austria
While unemployment in Austria rose slightly in a weekly comparison, there was a significant decrease in short-time work, as Labor Minister Kocher announced on Tuesday.
Unemployment in Austria rose slightly in a weekly comparison to 296,825 people, an increase of 2,046 people. At the same time, short-time work fell significantly to 4,650 people – a month ago there were 27,854 short-time workers. Minister of Labor Martin Kocher (ÖVP) spoke today of a continued positive labor market situation, the increase in unemployment is within the range of fluctuation usual for the season.
Unemployment increased slightly, short-time work fell significantly
“The slight upward and downward movements in weekly unemployment that are now returning are normal in July and August. There are currently no signs of a stronger downward trend in the labor market,” said the minister in a broadcast on Tuesday. He did the math: in 2019 there were 324,959 job seekers, in 2020 there was an annual average of 440,080, and in 2021 349,431, i.e. significantly more than the current 296,825 job seekers.
Regarding the economic situation, the Minister of Labor and Economic Affairs believes that high inflation is clouding growth prospects in the second half of the year. “Together with the uncertainties in the energy supply, which are also increasing, we must assume that the economic momentum will continue to weaken, even if the measures taken by the federal government to compensate for inflation and to secure the energy supply are likely to have an impact,” the minister said. In any case, Austria should “grow faster than most EU countries from today’s perspective”.
Reference to a study on the operation of the historic building of the BHÖ
Kocher referred to a study by the Industrial Science Institute (IWI), which examines the economic effects of the operation and maintenance of historic buildings belonging to the Burghauptmannschaft (BHÖ). His conclusion: “The operation and investments in historical buildings of the federal government trigger numerous value-added effects in Austria and secure several thousand jobs every year. In 2019, the Burghauptmannschaft and its historic building generated more than 3 billion euros in added value through direct and indirect effects. The operation of the historic federal building and the effects it had on tourism secured a total of more than 53,000 jobs.”