Labour force forecast

The labour force projection for Austria is based on the medium variant of the population projection and labour participation rates extrapolated from the years 2004 to 2019 by sex and five-year age groups by three variants. It describes the assumptions and how the stocks are projected until 2080. Austria had a labour force of 4.60 million in 2019, the reference year for the new projection. According to the trend variant, the total labour force will amount 4.55 million persons (-1.1%) in the year 2050 and 4.57 million (-0.7%) in 2080.

Due to population ageing also the labour force will age. The share of persons in the labour force older than 55 years will increase from 16.6% to 19.6% in the year 2050. Hand in hand with population increase Vienna, the capital of Austria, will see the highest growth in the labour force by 11.8% in the long run.

Two other variants show on the one hand the development by a slightly higher increase of labour participation (mobilisation variant) and on the other hand with constant labour force participation rates of the year 2019 (benchmark variant). This scenario allows quantifying the influence of shifts in population size and structure to the changes in the labour force.

Results (overview): Labour Force Projection - Trend Variant
Age Structure of Labour Force (Trend variant)

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