AUSTRIA – Lowest unemployment rate in the EU

When you take a closer look at the small country of Austria, the labor market is a special field of interest of social policy, especially when it comes to unemployment. According to the evaluation of the institute of Eurostat Austria had in 2011 an unemployment rate of only 4%. That leads to the fact that Austria has the lowest unemployment rate in the European Union. Followed by the countries of Luxemburg and the Netherlands with a rate of 4,9%. The average of the European Union is around 9,8%. The highest unemployment rate is still facing Spain, with 22,9% of unemployment. The estimated number of unemployed in the European Union has reached 23,7 million people by 2011. Regarding the figures of the last years, 14 countries had noted a reduction in unemployment for instance, Estonia and Latvia, but also 13 countries of the European Union had a increase of the unemployment rate like Greece and Spain.

In Austria the year of 2011 was affected from the Euro crisis but also the opening of the labor markets feared the Austrians, that unemployment could increase again, but this was luckily not the case. When it comes to the question, are women in Austria more likely to get unemployed than men, I have found a research that figured out that women have a 0.7-0.9 percentage points higher probability of being unemployed than men, when applying on the labor force market. This difference sounds relatively small in absolute terms, it means that the unemployment risk of women is 14-16% higher than that of men. Although Austria has already a low rate of unemployment there are still some problems to Austria has to face.

Links:

http://othes.univie.ac.at/3326/.pdf

http://diepresse.com/home/wirtschaft/international/721797/Oesterreich-hat-geringste-Arbeitslosigkeit-in-EU-?from=simarchiv

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2 thoughts on “AUSTRIA – Lowest unemployment rate in the EU

  1. This was a very interesting post. I had no idea that the unemployment was only 4% that seems so different from Spain’s unemployment. It seems like Austria is doing quite well compared to other European Union countries.

    I found it very sad that women in Austria seem to have a higher rate of unemployment. I wonder exactly why this is. It seems to me that Austria doesn’t have any problems with equality but this factor places a question into my head if there really are problems with equality in Austria. 14-16 % is quite different but maybe this statistic does not include women who are house wives or who are retired.

    Very interesting material and very well written.

    Reply

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