“The development on the labor market corresponds to the usual development at the end of the summer season,” said Labor Minister Martin Kocher (ÖVP). Unemployment – including people in training – is still below the levels of the past three years, and the number of pre-registrations for short-time work is still relatively low at 6,382 people.
“This data shows that short-time work is currently much less needed than in the Corona years 2020 and 2021, despite the challenges for companies in connection with the high energy prices,” emphasized Kocher. Short-time work is “increasingly approaching its original purpose as a crisis instrument in exceptional situations”.
The development of GDP, shown by the GDP indicator of the OECD, shows a 0.5 percent higher GDP in the week from October 2nd to 9th, 2022 than in the corresponding week of comparison to the previous year. “The geopolitical situation is still an obstacle to economic growth, but we can see that the economy is growing again at the beginning of October,” the minister said. The message will probably also be heard by the social partners, who are currently negotiating wages and salaries for the metal workers and trade for 2023.
Source: Nachrichten
