More unemployed

Where good job opportunities are still waiting in Vienna

The industry is currently suffering. However, the number of young, innovative companies is increasing. Some sectors are also crisis-proof.

(Bild: Foto: Ingo Bartussek)

A weakening economy is driving up unemployment figures throughout Austria. But this also opens up new opportunities. And the City of Vienna is also responding to this and not only wants to promote - but also challenge. 

As reported, the number of unemployed people and AMS training participants in Austria has risen by 9.8 percent or 31,497 people. Men and foreigners were particularly at risk of unemployment.

Interestingly, the number of job vacancies also fell significantly by 15.5 percent. However, this is unlikely to have been due to the large number of job vacancies - fewer jobs are simply being created due to the economic situation.

Nevertheless, experts also see positive aspects - especially for Vienna. Alongside Carinthia and Burgenland, the federal capital had the lowest number of new unemployed people at +7.7 percent and the number of vacancies in Vienna has also shrunk significantly less.

Vienna defies the odds with record number of new start-ups
Nevertheless, the number of unemployed in Vienna is still significantly higher than in other federal states. According to the latest figures from the Public Employment Service Austria (AMS), around one in ten residents in Vienna who are able to work are not in employment (11.3 percent). AMS Vienna boss Winfried Göschl speaks of a big city phenomenon: "The city is always particularly attractive for jobseekers. There are relatively many jobs available here and relatively cheap housing. This is also reflected in the unemployment rate."

Not since 1993 have so many companies been founded as this year.

(Bild: stock.adobe.com/NDABCREATIVITY - stock.adobe.com)

Nevertheless, although unemployment is currently rising again, opportunities are also opening up. The good news: Vienna remains an attractive business location for start-ups. In the first half of 2024, 5170 new companies were founded in the Austrian capital - a record since 1993.

7.7 percent

The most significant increase in unemployment in the past year was recorded in Tyrol (+16.1 percent). In Vienna, the number of unemployed grew at a lower rate (+7.7 percent).

"Green jobs" on the rise
This dynamic on the start-up market could prove to be a real driver for the labor market and open up new opportunities for job seekers and skilled workers. According to the Vienna Chamber of Commerce, this development shows that the capital is not only a center for established companies, but also fertile ground for fresh ideas and bold initiatives. It is particularly pleasing that this wave of start-ups is not limited to the quantitative aspect, but also sets qualitative accents. The majority of the new projects have a strong focus on sustainability. More than half of the projects submitted to the Vienna Business Agency for funding have a climate aspect - a clear signal that the Viennese economy is not only sustainable, but also environmentally conscious.

Some sectors are desperately looking for employees.

(Bild: APA/HANS KLAUS TECHT / APA / picturedesk.com)

Which sectors are particularly in demand
Despite global challenges, Vienna's labor market remains robust and diverse. And unlike other provinces, the federal capital offers a wide range of opportunities across various sectors. This is demonstrated by a look at the Wirtschaftsbund's job monitor. There are currently an above-average number of vacancies in the fields of electrical engineering, healthcare and social services, as well as in trade, logistics and transport. 

Vienna wants to promote and demand more
Despite the election campaign, City Hall, the Chamber of Labor and the Chamber of Commerce are committed to a demonstrative solidarity between the social partners. This is the only way to "master the bleak situation of the economy and labour market in the best possible way", emphasizes City Councillor for Economic Affairs Peter Hanke. Perhaps Vienna will achieve minimal economic growth in the future despite the standstill forecasts for Austria as a whole, "but we have to bring that home first".

City Councillor Peter Hanke, AK boss Renate Anderl and Walter Ruck from Wiens Wirtschaft see the federal government as having a duty.

(Bild: Bartel Gerhard/Gerhard Bartel)

Not only Hanke and AK President Renate Anderl, but also Vienna's Chamber of Commerce President Walter Ruck agree that the federal budget cuts at the AMS could send the economy into a downward spiral right now. For Anderl, this would be "simply unacceptable and wrong". Hanke emphasized that Vienna was not a supplicant, but rather "the federal government is responsible". However, Ruck also told his party colleagues in the federal government that "the budget must always follow the task".

Strict regiment
Conversely, Hanke is sympathetic to a strict regiment when it comes to social benefits: "Encouraging and demanding is quite normal and a matter of course. Sanctions are already in place." Ruck is even clearer and insists that solidarity always consists of a giving and a receiving part, which is why "it will be necessary to find a balance here".

More opportunities for young unemployed people
Employers, employees and the town hall also agree that more opportunities for young unemployed people in particular also mean more opportunities for the city's economic future. Ruck speaks of "enormous potential" that needs to be exploited, and Anderl believes that "we have to help these young people - if only because we need them on the job market".