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Overall score

Score by Indicator

5.3
in 2016 5.2
0 2.5 5 7.5 10

Key drivers

Talent mismatch

Employers in Austria may be struggling to recruit people with the right skills, with more unfilled job vacancies.

Labour market flexibility

The latest World Bank ‘Doing Business’ analysis indicates increased regulatory restraints in Austria’s labour market which could restrict access to skilled migrants.

Overall wage pressure

Average employee earnings is forecast to fall slightly in 2017. Wage growth has been kept low by a growing supply of labour.

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COUNTRY OVERVIEW

View from the ground

Mark Frost, Managing Director, Hays Austria

The relative ease witnessed recently in the wider labour market requires further examination to understand the different situation currently taking place within the highly-skilled labour market. The past year has shown that the demand for IT, life sciences and engineering professionals, as well as specific finance specialisms, has risen and there are more jobs than professionals available for the roles. This is creating additional pressure in highly-skilled sectors. Due to the collapse of the coalition government, there will be an election in Austria this year. As a result of the current international political atmosphere, the ‘old’ political parties are scrambling to show that they have new ideas and energy to carry Austria forward – only time will show what is to come.

Mark Frost, Managing Director, Hays Austria

Country Profile

Austria’s economy grew faster in 2016, at 1.6 per cent than it had in 2011. If the economy expands by 2.7 per cent in 2017, as is forecast, there will be increased demand and competition for labour in the country.

Still, Austrian employers have benefitted recently from increased labour supply because of restrictions on early retirement, increased female labour force participation and migration. Each of these trends act to ease the relative difficulty of attracting and retaining workers.

Key skills in demand

  • Software developers
  • System engineers
  • Risk managers
  • Validation/qualification engineers
  • Firmware developers

News and Press Materials

Mark Frost, Managing Director, Hays Austria