Hidden unemployment is the one that increases the most



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It is bad enough that by the end of the year there will be half a million unemployed. It becomes dangerous when people give up.

Winter is coming and seasonal unemployment is increasing in Austria. Then many workers are sent to stamps, especially at the construction site. And in hotels and restaurants. But as is well known, there is already extremely high unemployment there. If a quarter of Vienna’s hotels remain closed, short-term work doesn’t help there. Conclusion: By the end of the year, unemployment in Austria will approach the psychologically critical level of 500,000, and may even be exceeded.

Because 400,000 people in this country continue to work part-time. That is much less than at the beginning of the crisis. There were 1.3 million. The only problem is that the longer people stay in a part-time job, the greater the risk that the job will be lost entirely.

These are all the conditions under which the famous fall pay round will begin in two weeks. This year Corona is closer than ever to a routine event. Hopefully. Indeed, it will be an exciting match. When employers point out, for example, that last year’s good annual financial statements, of course, have long been wasted and that there is nothing to distribute this year. Of course, that doesn’t apply to managers’ bonuses and dividends, but that’s another matter. And at the same time, employees will point out how well the cut-time job worked, you could leave it at that, at full salary, of course.

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