{"id":83215,"date":"2024-01-22T08:46:30","date_gmt":"2024-01-22T07:46:30","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/83215\/"},"modified":"2024-11-06T23:34:47","modified_gmt":"2024-11-06T22:34:47","slug":"konjunkturbelebung-entlastet-den-arbeitsmarkt-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/83215\/","title":{"rendered":"Cyclical Recovery Improves Labor Market Situation"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-83215","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Recovery continued over the summer and into early fall without accelerating. Exports remain the driving force for increased capacity utilization and a brightening investment climate. Continued lively domestic demand gives the upturn a broader base but, together with disappointing net receipts from summer tourism, acts as a drag on the current external account. Having passed its trough about a year ago, business activity in Austria is still in the early stage of a moderate upturn. Its further course will be largely determined by developments abroad as foreign demand is typically the growth engine at this stage of the cycle. Exports have recently been strong towards some eastern neighbor countries, the former Soviet Union, and overseas markets. The Austrian supply structure with its relatively large share of semi-manufactures and highly competitive machine tools and other investment goods sector was conducive to a reinforcement of market shares. On the traditional markets in Western Europe performance was mixed. Past exchange rate shifts and sluggish domestic demand in Germany exerted a dampening effect. Moreover, the sweeping rationalization and cost-cutting measures in the German automobile industry may, on the whole, not have benefited Austrian suppliers. The order situation suggests further export and output growth for the months ahead. In many European countries demand buoyancy has extended from exports to private investment. Wage moderation and rising capacity utilization have boosted corporate profitability, such that comparatively high real interest rates should not impede the recovery, at least not in the short run. Domestic demand continues to rise although activity in the construction sector has slackened since last spring. Income gains from tax cuts have to a large extent been either saved or spent on services, particularly foreign travel. Retail sales of consumer durables have so far remained subdued as households expect price cuts after accession to the EU. The labor market has reacted relatively quickly to the rebound in output. The construction sector, retail trade, and many other services are hiring new labor and, even in manufacturing, personnel cuts have come to a halt. In November, registered unemployment fell by 14,400 year-on-year. Price stabilization has made slow progress in recent months. In October, the annual inflation rate fell below 3 percent. Housing costs and service prices have posted above-average increases throughout the recession; but also for manufactures, inflation is relatively strong given the altogether stable import and producer prices.","onlinedate":"1994-12-01 01:00:00","lang":"German","publication_series":"","publication_date":"19941201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":274658,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"67","monthly_report_pages":"639-649","monthly_report_pages_sort":"639","issue":"12","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[4055],"persons_data":"[{\"personId\":4055,\"personName\":\"Georg M. Busch\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Busch, G. M.<\\\/span> (1994). <span>Konjunkturbelebung entlastet den Arbeitsmarkt<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>67<\\\/em>(12), 639-649. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/119\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/119<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Busch GM<\\\/span>. <span class=\\\"title\\\"><span>Konjunkturbelebung entlastet den Arbeitsmarkt<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 1994 Dec;67(12):639-649.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{36c69fb0fcbc418699c092e4e4f0fe1e,<\\\/div><div>  title    = \\\"Konjunkturbelebung entlastet den Arbeitsmarkt\\\",<\\\/div><div>  abstract = \\\"Im Sp{\\\\\\\"a}tsommer und zu Herbstbeginn setzte sich die Erholung der Konjunktur fort, ohne sich zu beschleunigen. Der Export bleibt die treibende Kraft f{\\\\\\\"u}r die bessere Auslastung der Industrieanlagen und die Aufhellung des Investitionsklimas. Die nach wie vor rege Inlandsnachfrage gibt dem Aufschwung eine breitere Basis, belastet aber auch, neben dem entt{\\\\\\\"a}uschenden Sommerreiseverkehr, die Leistungsbilanz.\\\",<\\\/div><div>  keywords = \\\"Konjunkturbelebung entlastet den Arbeitsmarkt; Cyclical Recovery Improves Labor Market Situation\\\",<\\\/div><div>  author   = \\\"Busch, \\\\{Georg M.\\\\}\\\",<\\\/div><div>  year     = \\\"1994\\\",<\\\/div><div>  month    = dec,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"67\\\",<\\\/div><div>  pages    = \\\"639--649\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Konjunkturbelebung entlastet den Arbeitsmarkt<\\\/p><p>AU  - Busch, Georg M.<\\\/p><p>PY  - 1994\\\/12<\\\/p><p>Y1  - 1994\\\/12<\\\/p><p>N2  - Im Sp\u00e4tsommer und zu Herbstbeginn setzte sich die Erholung der Konjunktur fort, ohne sich zu beschleunigen. Der Export bleibt die treibende Kraft f\u00fcr die bessere Auslastung der Industrieanlagen und die Aufhellung des Investitionsklimas. Die nach wie vor rege Inlandsnachfrage gibt dem Aufschwung eine breitere Basis, belastet aber auch, neben dem entt\u00e4uschenden Sommerreiseverkehr, die Leistungsbilanz.<\\\/p><p>AB  - Im Sp\u00e4tsommer und zu Herbstbeginn setzte sich die Erholung der Konjunktur fort, ohne sich zu beschleunigen. Der Export bleibt die treibende Kraft f\u00fcr die bessere Auslastung der Industrieanlagen und die Aufhellung des Investitionsklimas. Die nach wie vor rege Inlandsnachfrage gibt dem Aufschwung eine breitere Basis, belastet aber auch, neben dem entt\u00e4uschenden Sommerreiseverkehr, die Leistungsbilanz.<\\\/p><p>KW  - Konjunkturbelebung entlastet den Arbeitsmarkt; Cyclical Recovery Improves Labor Market Situation<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 67<\\\/p><p>SP  - 639<\\\/p><p>EP  - 649<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cyclical Recovery Improves Labor Market Situation - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/83215\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cyclical Recovery Improves Labor Market Situation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/83215\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-06T22:34:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/83215\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/83215\\\/\",\"name\":\"Cyclical Recovery Improves Labor Market Situation - 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