Overall Score

5.2 in 2015 5.1
0 2.5 5 7.5 10

Key Finding

Overall wage pressure will continue to be the main issue for Austrian employers as Austria’s high and growing rate of long-term unemployment will increase the difficulty of recruiting the skilled personnel firms require.

BREAKDOWN OF SEVEN INDICATOR SCORES

Scores
0 2.5 5 7.5 10
Education
flexibility
5.0
Labour market
participation
5.7
Labour market
flexibility
3.4
Talent
mismatch
3.6
Overall wage
pressure
8.2
Wage pressure in
high-skill industries
7.2
Wage pressure in
high-skill occupations
3.6

COUNTRY OVERVIEW

View from the ground

The Austrian economy has improved in certain areas in 2016, such as a small increase in imports, a very slight increase in the GNP, growth in consumer spending and an increase of gross industrial investments. On the other hand there were several negative factors, such as a continued increase in unemployment, an increase in inflation rates and an increase of the ratio debt to GNP. Unfortunately, the outlook for 2017 is not rosy. Austria is expected to experience no GNP growth, reduced consumer spending, stagnant industrial investment, a marked increase in unemployment and a further increase in inflation. Highly educated specialists are still in demand, but Austria must compete with Germany in trying to retain and attract the sought-after talent.

Mark Frost, Managing Director, Hays Austria

Mark Frost, Managing Director, Hays Austria

Country Profile

The Austrian economy continues to recover, on the back of a strong pickup in exports.

Real GDP growth in 2016 is forecast to be twice the size of that in 2015.

However, the upturn in industrial production has not yet led to a pickup in the labour market.

Hours worked has shown little growth in recent years.

Mark Frost, Managing Director, Hays Austria

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