The lockdown and seasonal effects are causing unemployment rates to rise. At the end of November, 363,494 were registered as unemployed or in AMS training, that is 12,826 more than in the previous week and 93,703 less than in November 2020. 81,805 people were pre-registered for short-time work at the end of November, an increase of 3,816 compared to the previous week, the Ministry of Labor announced on Wednesday with.
“The labor market situation is still stable at the end of November despite a very challenging pandemic situation, which is ostensibly due to the positive labor market development at the beginning of the month,” commented Labor Minister Martin Kocher (ÖVP) on the current labor market data. Kocher expects the lockdown to be even more visible on the labor market. The longer the closings are necessary, the more challenging it will be for the labor market and the economy.
The Minister of Labor expects that the unemployment figures will move “noticeably below the level of last winter” despite the current closings. According to Kocher, the number of short-time working could rise to around 350,000 to 400,000 registrations.