The output of employment services in Austria has shown considerable growth from 2013 to 2019, with fluctuations predominantly evident due to external factors such as economic slowdowns. This output, which stood at 5.71 Billion Euros in 2023, saw substantial growth peaking at 12.7% in 2017, followed by a notable decline in 2020 by 12.08% due to pandemic-related impacts. The recovery phase began in 2021, continuing on a growth trajectory with a YoY increase of 6.21% in 2023. Over the last five years, the CAGR settled at 2.8%, indicating steady yet slower growth.
Future trends indicate the employment services sector will likely maintain its growth, reaching 6.69 Billion Euros by 2028, signaling a CAGR of 2.5% from 2023 to 2028. Factors influencing this trend include technological advancements in recruitment, increased focus on flexible working arrangements, and evolving labor market demands.
Key watch areas moving forward include:
- Technological advancements and their adoption within the recruitment industry.
- Policy changes impacting employment and labor markets.
- Shifts in freelance and gig economy workforce representation.
