Chamber of Labor: Employees struggle with inflation and fears for the future

Chamber of Labor: Employees struggle with inflation and fears for the future

Almost a fifth of employees assume that their future pension will not be enough.
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According to the Chamber of Labor, around 700,000 people in Upper Austria are employed, of which 45 percent are women and 55 percent are men. Six out of ten Upper Austrian employees are between 25 and 49 years old. Almost a third are over 50 years old and will therefore be retiring in the next ten to fifteen years.

The effects of inflation are also reflected in the working climate index. For the study, which is carried out by Sora and Ifes on behalf of the chamber, 4,000 interviews are conducted annually. On average, over the past five years, 55 percent of employees in Upper Austria said that they were getting along well with their income. In 2022 it was only 47 percent.

Women and those employed in tourism and trade are the worst off with their income. “In order to combat the effects of inflation, we need a price cap for energy, a real rent brake with a maximum permitted indexation of two percent per year for all rents and an 800 euro housing bonus,” says AK President Andreas Stangl.

Doubts about the pension

Only 35 percent of those currently actively employed believe that they will be able to live well on their pension in the future. 47 percent say their
Pension will just be enough. 19 percent assume that it will not be enough. Here too, there are clear differences between the genders: 40 percent of men, but only 29 percent of women, believe that they will get along well with their pension. Employees in health and social services, tourism and retail are particularly skeptical.

Compared to the federal states, Upper Austrian employees are satisfied with their jobs: employees in public administration and education are particularly happy. Employees in the tourism and catering industries are least satisfied. Among other things, they rate the timing, their career opportunities and the health conditions in their job negatively.

According to AK President Stangl, twelve percent of all legal cases in the Chamber of Labor concern the catering industry, in which four percent of Upper Austrian employees work.

When it comes to their chances on the job market, two thirds of Upper Austrians are optimistic: 67 percent of them say they would easily find a new job if they lost their current job. In the remaining federal states, only 58 percent believe this.

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