Vienna Employment and Skilling Monitor. Annual Results for 2010

Following the downswing of the Austrian economy in the first half of 2009, the first signs of recovery appeared already in the second half of the year, and gathered strength in the first half of 2010. According to WIFO projections, Vienna's economy added value to the tune of 1.6 percent in real terms in the first half of 2010, which exactly corresponded to the Austrian average. The key to this development was the high real growth rates in the banking and insurance sectors. As the Vienna Employment and Skilling Monitor shows, the slight current recovery encompassed mostly the larger companies. The third quarter saw a lower number of businesses with declining production, although the number of job openings and new employment contracted and businesses were more pessimistic than in the previous quarter when it came to expectations of future employment. A special analysis found that WAFF services are well known among employers even though only a few avail themselves of them. But those that do are typically greatly satisfied with the service.