At the end of the month, 296,647 people were registered with the AMS as unemployed or in training, 47,292 fewer than in the same month last year, the Ministry of Labor announced on Monday. However, the number of vacancies is still high, amounting to 137,826 at the end of July and thus only marginally decreasing compared to June.
The unemployment rate was 5.6 percent, the lowest July figure since 2008. “In a long-term comparison, the labor market has proven to be very robust,” said Labor and Economics Minister Martin Kocher (ÖVP) in a broadcast. However, the situation could deteriorate in the coming months. It can be assumed that “the Russian war of aggression in Ukraine and the economic upheaval it has triggered will have an increasingly negative impact on the labor market,” said Kocher.
Source: Nachrichten
