Billions for short-time work: What's really behind it

Billions for short-time work: What's really behind it

The expenditure of almost ten billion euros on short-time work assistance in Austria during the Corona pandemic is difficult to grasp and abstract. To put this sum into perspective, one could consider that it would be enough to fund the entire police force for two years or to cover the costs of the education system for almost a year. These enormous amounts illustrate the significant support that the government has provided in the form of short-time work assistance. The funding was crucial to supporting businesses and preserving jobs while the economic impact of the pandemic was felt.

Short-time work assistance has enabled many companies to retain their employees and avoid layoffs despite losses in sales. This made a significant contribution to stabilizing the labor market situation and mitigating the economic consequences of the crisis. The investment in short-time work paid off in the long term by protecting jobs and helping to keep the economy on track.

András Szigetvari, an expert in economic policy, emphasizes the effectiveness of the billions in short-time work aid and emphasizes that they have really helped the companies and employees affected. The targeted support through short-time work enabled many companies to react flexibly to the difficult economic situation and to stabilize themselves in the long term. This measure made it possible to preserve many jobs and ensure the social security of employees.

Overall, it shows that the billions invested in short-time work assistance during the pandemic have made a significant contribution to overcoming the economic challenges. The support was targeted, effective and helped companies and workers get through the difficult period and move towards economic recovery.