In view of the events of 2022, both the domestic labor market and the domestic economy have developed “extraordinarily well”, according to the ministry in its press release. The expiry of the CoV measures led to a strong upswing, but this was also severely dampened by the Russian war of aggression in Ukraine.
In the first half of the year, unemployment fell significantly and, with an annual average of 332,645 people, reached a long-term low, ÖVP Labor Minister Martin Kocher is quoted as saying. In the course of the year, 588,334 people were brought into employment from unemployment. The absolute number of jobseekers registered with the AMS this year is the lowest since 2012.
At the end of 2021, 27,507 more people were unemployed or in training than at the moment, and at the end of 2020 unemployment was 146,048 more than at the end of 2022. At the end of 2019, 33,001 more people were unemployed than at the moment. The development of long-term unemployment, which peaked in April 2021 at 148,436 people, is also encouraging. Since then, long-term unemployment has fallen by 68,018 people. At the end of 2022, 80,418 people were long-term unemployed and thus more than a year without a job – the lowest level since 2013.
Fewer women unemployed
Viewed by gender, 150,875 women (six percent) and 223,996 men (8.6 percent) were unemployed or in training at the end of 2022. Compared to the previous year, the unemployment rate for women fell by 17,331 and for men by 10,176. At the end of December 2022, 104,990 people aged 50 and over were registered as unemployed with the AMS. In 2021 this value was 116,948 people, in 2019 it was 116,203 people.
Youth unemployment is currently 56,130 people and has therefore also fallen by 918 people compared to the previous year. At the end of 2022, 3,586 people were pre-registered for short-time work. At the end of 2021, 233,769 people were still being billed. Short-time work was last extended in its current form until mid-2023.
Private households as a pillar of the economy
In the first half of the year, economic growth was surprisingly high due to catching-up processes after the strict CoV measures, Kocher continued, mainly due to the revival of tourism. Due to the war of aggression and the subsequent increase in prices, the economy has clouded over significantly, also in view of the global economy. Due to the relief packages for private households, private consumption is a pillar of the domestic economy.
The exports of the domestic economy were robust in 2022 and grew by 18.7 percent to 144.3 billion euros in the first three quarters. 68 percent went to the EU, above all to Germany (30 percent), Italy (6.9 percent) and the USA (6.5 percent). According to figures, the growth was particularly strong for exports to France at 27.7 percent and Hungary at 29.1 percent.
