Unemployment in Austria

Austria Unemployment | Economic News & Forecasts

Austria - Unemployment

The economy should have emerged from recession in the third quarter. Industrial output growth accelerated in July–August—despite dipping in August—while manufacturing operating conditions improved markedly in the quarter as a whole. Moreover, business confidence—despite remaining in pessimistic territory—rose strongly in the quarter, while consumer confidence turned less sour in the same period, boding well for household spending. Looking at Q4, economic activity will likely be dented by new restrictive measures announced in mid-October amid a surge in new coronavirus cases. Meanwhile, on 14 October, the government tabled the 2021 draft budget, which will see greater spending on climate issues, despite a projected fiscal deficit of 6.3% of GDP due to the fallout from the pandemic. However, the budget does not include promised tax reform measures.

Austria - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate5.8  6.0  5.5  4.9  4.5  

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Austria Unemployment Chart

Austria Unemployment
Note: Unemployment in % of active population.
Source: Austrian National Bank.

Austria Facts

Value Change Date
Bond Yield0.030.40 %Jan 01
Exchange Rate1.120.65 %Dec 31

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