The Austrian Labour Market Since the Economic Crisis
The development of the Austrian labour market in the past decade has been characterised by a significant growth in the pool of available labour, notably through the participation of more women as well as older and immigrant workers, by falling demand for low qualifications as a result of economic structural change, as well as by rising unemployment. First the financial and economic crisis of 2008-09 and, shortly thereafter, a period of low economic growth lasting several years have left a lasting mark on the labour market: unemployment climbed to a new high. Towards the end of 2016, a possible turnaround began: as a result of a marked recovery in the economy, unemployment fell for the first time after five years of growth. However, joblessness remains high, and a continously sluggish labour market has led to solidified unemployment in some of its segments which is difficult to reduce even in the current upswing.