Unemployment rate (Eurostat) in Austria

The unemployment rate is the share of jobless people in the total labour force. It is the main gauge of Austria's labour market and of the economy's ability to create jobs. Austria reports both the harmonised ILO figure from Statistics Austria and the registered unemployment count from the public employment service (AMS).

It is derived from the Labour Force Survey of a sample of households, using ILO criteria: a person is counted as unemployed if they are without work, available to work and actively seeking a job. The harmonised criteria allow international comparison.

Its path reflects the momentum of the Austrian economy. A strong labour market boosts consumption and household income and is a key input for ECB policy, since Austria is part of the euro area.

It is worth distinguishing whether the rate moves because of shifts in labour demand or in the size of the labour force. Survey data are subject to sampling error and revision, and the harmonised ILO figure typically differs from the AMS registered count.