From 2013 to 2023, the number of employees in employment services in Austria showed a general upward trend, rising from approximately 81.19 thousand to 113.08 thousand. Notable increases were recorded in 2016 (6.12%) and 2017 (13.32%), whereas declines were observed in 2014 (-0.69%) and 2015 (-1.79%). The last two years, 2021 and 2022, demonstrated consistent growth with YoY variations of 2.72% and 2.6% respectively. The compound annual growth rate (CAGR) for the last five years (up to 2023) averaged 2.39%, signifying steady growth.
Looking forward, the number of employees is forecasted to continue increasing, reaching 125.97 thousand by 2028. The expected forecasted CAGR over the next five years stands at 1.7%, reflecting a moderated but stable growth trajectory. The forecasted five-year growth rate is anticipated to be 8.81% from 2024 to 2028.
Future trends to watch for include:
- Technological advancements and their impact on employment service demands and the nature of employment contracts.
- Economic policies and their influence on job market dynamics in Austria.
- Shifts in labor market regulations and the integration of automation and artificial intelligence in HR processes.