“In 2022, an average of 206 500 jobs in Austria were unfilled. The number of vacancies was thus not only 41.4 % above the previous year and 61.1 % above the pre-pandemic level of 2019, but also reached the highest value ever recorded. The job vacancy rate – thus, the share of vacancies in all available jobs – also rose to 4.8 %, further indicating shortages in labour supply. Most of the job offers were in the service sector last year. But the demand for personnel was also high in production,” says Statistics Austria Director General Tobias Thomas.

In the course of the year, the number of vacancies reached its annual high of 218 100 in the third quarter. 202 700 vacant positions were reported in the first quarter, 206 300 in the second and 198 800 in the fourth quarter. The job vacancy rate 2022, with its annual average of 4.8 % was by 1.2 percentage points higher than in the previous year 2021 and 1.7 percentage points above 2019. 63.6 % of all job offers were reported to the Public Employment Service (AMS).

Increase in job vacancies in all economic branches

All branches of the economy recorded by the Job Vacancy Survey reported more vacancies in 2022 than in the previous year. In the service sector there were 123 800 vacancies. This corresponds to an increase of 44.9 % compared to 2021 and of 62.5 % compared to 2019. 52 500 jobs were vacant in the manufacturing sector (+30.5 % in comparison to 2021 and +60.6 % in comparison to 2019) and 30 200 in the public sector (+47.9 % in comparison to 2021 and +56.4 % in comparison to 2019). Service and sales workers (21.8 %) as well as craft related trade workers (19.5 %) were sought after particularly frequent.

At 83.5 %, the majority of the vacancies were advertised as full-time positions.

36.4 % of all vacancies or 42.4 % of the vacant full-time positions had an expected gross monthly income of at least 2 400 euros. 37.6 % of the vacancies (full-time positions: 41.1 %) offered a salary of 1 700 to less than 2 400 euros and 15.1 % (full-time positions: 9.6 %) offered a salary of 1 000 to less than 1 700 euros. 9.8 % of all vacancies, or 5.9 % of full-time positions, paid less than 1 000 euros.

40.5 % of the vacancies requested a compulsory school leaving certificate or no minimum school qualification from applicants. 32.2 % were looking for employees with an apprenticeship certificate. 11.1 % of all vacancies required a matriculation examination and 10.3 % a higher education qualification.

Search duration increased markedly

The search duration also provides an indicator for tense situations on the job market. In 2019 and 2021, respectively, an average of 21.6 % and 20.6 % of all vacancies were advertised for less than one month. This was the case for only 11.9 % of the job offers in 2022 (see Table 2). 16.7 % of the vacancies had a search duration of at least six months (2019: 12.1 %; 2021: 12.9 %), and 27.9 % were permanent postings (2019:26.7 %; 2021: 21.6 %).

Source: statistics Austria
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Private sector employment in the U.S. increased by 235,000 jobs in December and annual pay was up 7.3 percent year-over-year, according to the December ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).

The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market. The report details the current month’s total private employment change, and weekly job data from the previous month. ADP’s pay measure uniquely captures the earnings of a cohort of almost 10 million employees over a 12-month period.

“The labor market is strong but fragmented, with hiring varying sharply by industry and establishment size,” said Nela Richardson, chief economist, ADP. “Business segments that hired aggressively in the first half of 2022 have slowed hiring and in some cases cut jobs in the last month of the year.”

Job resurgence was seen in the last two months of 2022 led by consumer-facing service industries. Hiring was strong across small and medium establishments while large establishments saw a drop in employment of 151,000 jobs.

December ushered in the largest decline in pay growth for job stayers in the three-year series history. Leisure and hospitality; trade, transportation and utilities; and information sectors had the sharpest declines in pay gains. Job changers’ pay growth also fell to the lowest level in 10 months.

Source: ADP Research Institute®
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According to the Article 8 entitled ‘’Definition and Form’’ of the Labor Law no. 4857; “Labor contract is an agreement between an employer and an employee about salary, benefits and working conditions. Labor contract is not subject to a special form unless otherwise indicated in law. The labor contracts whose durations are 1 year or more should be made in written form. These documents are exempt from stamp tax, other fees and duties.”

Despite of legal obligations, the labor contracts are not made in written form in Turkey. That situation results in forfeitures in case of a disagreement between the employer and the employee. As a result of that, it is essential to make a written agreement for the security of reciprocal rights and benefits and also it is a statutory obligation.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Lagarde has claimed that the despite of the fact that the world’s economy is gaining momentum, that recovery can be cut off by protectionism.

She also said that that recovery meant the promise of more jobs, higher incomes and greater prosperity going forward.

Source: Euronews

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.