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24/7 Wall St.: Countries Where People Work Least

4. Austria

Average annual hours per person: 1,431

Average working hours per week: 27.5

Average wage per hour: $36.63 (6th highest)

2011 unemployment rate: 4.2%

Last year, Austria had a 4.2% unemployment rate, nearly half the OECD’s unemployment rate of 8.2%. Despite this low unemployment figure, many workers could not find full-time jobs as 18.9% were part-time employees, more than the OECD’s average of 16.5%. Whereas some Austrians worked few hours, still others did exactly the opposite, as 9.02% of employees worked more than 50 hours a week. Austria has high average wages, at $36.63 per hour — well above the $30.30 per hour in the United States. However, wages only increased an average of 0.3% per year between 2007 and 2011, below the OECD’s average of 0.5%, while the number of hours the average employee worked has fallen by 3.7% during that time.

(iStock Photo)

More From 24/7 Wall St.:
10 Countries Where Young People Can’t Find a Job
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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