Austrian IT industry expected to grow rapidly

The IT industry in Austria is developing rapidly according to new data.

The chief executives of around 2,000 companies in the IT industry were asked about their expectations for the first half of 2012. The study shows that the industry might grow its turnover with 3.8 per cent compared to the first six months of 2010.

The IT industry in Austria consists of more than 110,000 companies in the information and technology services branch, information technology (IT) and company consulting. At least four per cent plan to hire additional staff in the coming months. This could mean an additional 8,000 positions, experts have stressed.

Data published by Statistik Austria shows that Austrian industry recently managed to increase its production capacity by around two per cent. Industrial companies benefited from the German economy’s positive signals but also from strong domestic demand, according to analysts.

In the Austrian National Bank’s (OeNB) latest economic forecast, experts state that Austria’s gross domestic product (GDP) could grow by 0.3 per cent in the second quarter of 2012. It said that the country was unlikely to fall into recession this year.

It sounds like Austria is performing well compared to many other countries in Europe. Only four per cent of all companies headquartered in Austria plan to lay off staff this year. Around 12 per cent want to hire employees while a majority intends to leave their workforce levels unchanged compared to 2011.

Around 4.144.000 people had a job in Austria in 2011, up from 4.096.000 in the year before. The number of men in part-time employment dropped slightly (from nine to 8.9 per cent) while the 44 per cent of all women in work had such contracts last year (2010: 43.8 per cent).

The overall jobless rate dropped by 0.2 per cent to 4.2 per cent. Around 8.3 per cent of young Austrians were out of work in 2011, fewer than in 2010 (8.8 per cent). At the same time, the number of job vacancies jumped from 69,100 in 2010 to 73,800 the following year.