Unemployment Increased: 397,000 People Without a Job in March
According to current figures, around 397,100 people were registered as unemployed or in training with the Public Employment Service (AMS) at the end of March. Of these, 316,300 were unemployed and approximately 80,700 were participants in AMS training programs.
Unemployment: Unemployment Rate Increased by 0.5 Percentage Points
Compared to the same month of the previous year, the number of unemployed and training participants increased by 7.4 percent or 27,400 people. The unemployment rate at the end of March increased by 0.5 percentage points to 7.4 percent. However, unemployment is rising "not as strongly as the economically tense situation would suggest," said AMS board member Johannes Kopf in a statement. "Particularly affected by the economic downturn" are still the industry and trade sectors, Kopf added.
Strongest Increase in Unemployment in Industry
The largest percentage increase in unemployed people and those in AMS training, in a sector comparison, was at the end of March compared to the previous year in manufacturing/industry (+14.9 percent), health and social services (+14 percent), and gastronomy and accommodation (+12.8 percent). The increase was somewhat lower in trade (+9.1 percent) and in transport and storage (+6.1 percent). The number of unemployed and training participants decreased in the construction industry (-4 percent) and in temporary employment (-0.6 percent).
The highest increase in the number of unemployed and training participants in a federal state comparison was recorded in Tyrol (+15.5 percent), followed by Salzburg (+15.3 percent), Upper Austria (+15.1 percent), and Vorarlberg (+10.8 percent). The increase was lower in Styria (+7.5 percent), Vienna (+5.3 percent), Carinthia (+5.0 percent), Burgenland (+4.9 percent), and Lower Austria (+3.3 percent).
Unemployment Rising Since April 2023
The recession in Austria, ongoing since 2023, is leaving clear marks on the job market. Unemployment figures have been rising in Austria since April 2023. Economic researchers from Wifo and IHS expect an economic upturn from summer. However, unemployment figures usually decrease with a delay during an economic upswing. Immediately available job vacancies fell by 11.1 percent to 81,740 at the end of March compared to the previous year. The ÖVP Economic Association records all job portals in its job monitor and noted "a new low" with 145,118 open positions.
(APA/Red)
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