38,183 people were registered as unemployed by AMS Lower Austria at the end of October 2023. Compared to the same month last year, the number of unemployed people in the country increased by 5.6 percent. If we count the participants in training, at the end of October 47,109 people were looking for a job or attending training. This value increased by 5.1 percent compared to the comparable value of the previous year. On a national average, the number of unemployed people (excluding training participants) increased by six percent compared to the previous year.
The unemployment rate in Lower Austria is currently 5.4 percent, 0.3 percentage points higher than the previous year. Across Austria it is 6.3 percent. Around 663 thousand compatriots, more precisely 294 thousand women and 369 thousand men, are employed. Taking into account the downturn in the economy across the country, the labor market in Lower Austria is robust, says Labor Market Councilor Susanne Rosenkranz (FPÖ). “Overall, despite the economic recession, our state is expected to see an increase in employment and an average annual decrease in unemployment of half a percent”, states the state councilor.
Long-term unemployment and unemployment among the elderly are declining
4,687 of job seekers have been looking for a job for a year or more. This represents 12.3% of all unemployed people and 18.8% less than in October of the previous year. This means that long-term unemployment has now fallen for 26 consecutive months. Among women, the decline was particularly strong, at 25.8 percent, compared to the previous year.
AMS Regional Manager Lower Austria Sandra Kern also states: “In contrast to overall unemployment, unemployment among the generation over 50 fell by 0.9 percent. The demographic change is clearly reflected in the composition of the unemployed: more than one in three of them is currently 50 years of age or older. Half of the generation over 50 has health problems. Ten years ago it was just a third.” According to Kern, older candidates are expected to become an increasingly important resource in companies’ recruiting efforts. “It’s important for us to sensitize companies in this direction when recruiting,” he says Kern.
Many apprenticeships and jobs go unfilled and youth unemployment has increased
At the end of October, 16,340 vacancies were reported in the AMS of Lower Austria, 16.8 percent less than the previous year and a record for 2022. The ÖVP-Wirtschaftsbund (WB) again reports in its job monitor almost 32,900 vacancies in Lower Austria Austria. Furthermore, AMS Lower Austria has 1,535 apprenticeship places immediately available, compared to 1,132 apprenticeship candidates. The majority of apprentices are sought after in the areas of trade, catering and electrical installation and assembly.
Youth unemployment also increased, albeit from a low level. At the end of October, almost 4,000 young people in the country were unemployed, 18.7 percent more than the previous year. The majority (81 percent) of young people registered as unemployed are between 20 and 24 years old. Almost a fifth are between 15 and 19 years old. The broader youth unemployment rate, including training attendance and apprenticeship claimants, is 8,746, 8.1 percent above the previous year’s figure. “Complete information and advice are the central keys to a successful entry into the world of work or training”, emphasize Rosenkranz and Kern. The two advise those affected to “take advantage of the diversity of advice on the professional world offered by AMS and social partners in Lower Austria”.