352,000 without a job
Unemployment rises again in August
Around 352,000 people were without a job in August - which once again means an increase in unemployment figures.
The slump in the domestic industry and construction sector continues to weigh on the labor market: at the end of August, 352,256 people were registered as unemployed or in training with the Public Employment Service Austria (AMS), of which 287,458 were unemployed and 64,798 were in AMS training measures. Compared to the same month last year, the number of unemployed and AMS training participants increased by 31,497 people, the Ministry of Labor announced on Monday.
Kocher: "Stable despite challenges"
"The unemployment rate at the end of August was 6.7 percent - that is still the third lowest unemployment rate in the last ten years," commented Minister of Labor and Economy Martin Kocher (ÖVP) on the current labor market data at a press conference in Vienna.
However, the labor market is still proving to be "relatively stable despite economic challenges". The situation is "not so easy" for an export-oriented economy like Austria because Germany, among others, is weakening, Kocher said.
Largest increase in industry and construction
At the end of August, the largest increase in unemployed persons and people in AMS training compared to the same month last year was in manufacturing/industry (+16.6 percent), construction (+12.9 percent), transportation and warehousing (+12.2 percent), trade (+12 percent) and catering and accommodation (+10.1 percent). The rise in unemployment was somewhat lower, but still strong, in the temporary employment sector (+9%) and in the health and social services sector (+8%).
"Austria is currently experiencing a significant industrial recession," said AMS board member Johannes Kopf in a written statement. "Unfortunately, there is no immediate prospect of stronger impetus from the global economy, nor do our early indicators show an imminent upturn here."
The most significant increases in unemployment and training participants were recorded in Tyrol (+16.1 percent), Upper Austria (+15.5 percent), Salzburg (+14.9 percent) and Styria (+14.1 percent). The lowest increases were recorded in Carinthia and Burgenland (+5.7 percent each) and Vienna (+7.7 percent).
All-time high for employees
According to the Ministry of Labor, the number of employed persons is at an all-time high of over four million. Never before have so many people been in employment at the end of August, said the Minister of Labor. The number of vacancies registered with the AMS as immediately available fell by 15 percent to just under 93,000 due to the economic situation. The ÖVP-Wirtschaftsbund records all job portals in its job monitor and recorded over 160,600 vacancies.
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