The World Bank ranks Austria seventh in the world in terms of annual per capita income. The annual gross
|GDP per Capita (US$)|
|SOURCE: United Nations. Human Development Report 2000; Trends in human development and per capita income.|
domestic product per capita is estimated to have surpassed US$30,000 by the late-1990s. Living standards are very high, and due to socialist policies of the federal government, the incidence of poverty is minimal. In 2000, the mean unemployment rate stood at 7.1 percent, and the mean gross monthly income was US$1,922.
There is no legally mandated minimum wage in Austria. Instead, minimum wage scales are set in annual collective bargaining agreements between employers and employee organizations. Workers whose incomes fall below the poverty line are eligible for social welfare benefits. Over half of the workforce works a maximum of about 38.5 hours per week, a result of collective bargaining agreements. The Labor Inspectorate ensures the effective protection of workers by requiring companies to meet Austria's extensive occupational health and safety standards. The Austrian system of social insurance is comprehensive, including sickness, disability, accident, old-age, and unemployment benefits; allowances for families with children; and rent aid. The program is financed by compulsory employer and employee contributions. Health insurance and some other types of insurance are voluntary for individuals who are self-employed. Health conditions and facilities in Austria are considered excellent.
|Distribution of Income or Consumption by Percentage Share: Austria|
|Survey year: 1987|
|Note: This information refers to income shares by percentiles of the population and is ranked by per capita income.|
|SOURCE: 2000 World Development Indicators [CD-ROM].|
|Household Consumption in PPP Terms|
|Country||All Food||Clothing and footwear||Fuel and power a||Health care b||Education b||Transport & Communications||Other|
|Data represent percentage of consumption in PPP terms.|
|a Excludes energy used for transport.|
|b Includes government and private expenditures.|
|SOURCE: World Bank. World Development Indicators 2000.|