Austria's labor market showed signs of steady improvement in 2024, with unemployment statistics reflecting a downward trend. According to Eurostat’s report for the second quarter of the year, the country’s overall unemployment rate stood at 4.5%, indicating a relatively stable employment environment.
However, data from Austria’s national statistics bureau, AMS Online, painted a slightly different picture. In September, the recorded unemployment rate was 6.6%, with regional disparities evident. Vienna and Carinthia registered the highest unemployment rates, underscoring the geographical variations in employment challenges.
Foreign workers holding Austrian work visas faced slightly tougher conditions. In September 2024, the unemployment rate for this group reached 9.4%. Despite this, the overall trend pointed to a gradual decline, suggesting improvements in job opportunities for non-citizens as well.
Demographics also played a role in shaping labor market dynamics. A significant portion of the unemployed—67%—fell within the 25 to 49 age group. Notably, foreigners residing in Austria are eligible to apply for unemployment insurance under the same terms as Austrian citizens. The amount of assistance they receive is tied to their prior earnings, with tools such as a specialized online calculator available to help estimate potential benefits.
In summary, while Austria’s labor market showed promising signs of recovery and stability in 2024, certain groups and regions continue to face challenges. These trends will likely influence labor policies and economic strategies in the coming year.