Vienna relies on economic growth: New perspectives for work and training!

Vienna relies on economic growth: New perspectives for work and training!

Vienna is currently in a spirit of optimism, and not just thanks to the sunny days that are pampering the city. The newly established red-pink government under the leadership of the Social Democrats has a clear focus on strengthening Vienna as a business location. How courier reported, various measures are being taken to integrate people with weaker job prospects, such as women without training and older workers, into the labor market.

A concrete driving force is the training allowance for nursing professions introduced last year, which aims to counteract the shortage of personnel in important areas such as nursing and pedagogy. The city government has also launched a targeted vacancy monitoring program in order to make sensible use of unused spaces and thus take a further step towards strengthening Vienna's economy.

Positive development despite challenges

Vienna can look back on impressive employment development. From 2010 to 2022, approximately 133,000 new jobs were created, an increase of 17.5%. According to the skilled workers report from Weapon Vienna even set a new record in 2022 with employment growth of 3.3%. However, the high unemployment rate of 10.6% remains a challenge that the city wants to continue to address.

The forecast demographic development predicts that Vienna could temporarily exceed the sound barrier of 2 million inhabitants in 2023. This brings with it both challenges and opportunities as skills shortages are felt in certain areas, particularly in the services sector. WIFO's predictions of a further increase in employment by 2028 illustrate the urgency of actively addressing the skilled worker situation.

Economy on the upswing

The current economic situation in Vienna also has a positive side. While the Austrian economy as a whole has to be patient, forecast Vienna Economic Association Moderate growth of 1.3% for the Vienna location in the first half of 2024. This is particularly important because the mood among Viennese entrepreneurs is more optimistic than in the rest of Austria. The high flexibility and innovative strength of local companies is seen as a decisive competitive advantage.

This is all happening against the backdrop of rising living costs, which make it necessary to take additional measures to support the economy. Even though inflation poses a challenge, surveys show that the Vienna economy remains well positioned for future developments. It remains to be seen how the new city government will set the course for this.