Austrian unemployment rate continues to rise in August

0 Comment(s)Print E-mail Xinhua, September 2, 2014
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The Austrian unemployment rate rose 10.1 percent year-on-year in August to reach 7.6 percent or 355,643 people without work, new figures released Monday have revealed.

In line with recent trends, people over 50, foreigners, and people with a disability have once again been the most affected by the unemployment rise, while the number of overall job-seekers also saw a significant increase of 62,000 over the course of the past year.

Worst-affected industries were construction with a 15.6 percent unemployment increase, as well as subcontracted labour (13.1 percent increase) and the tourism industry (10.6 percent increase).

Austrian Minister of Social Affairs Rudolf Hundstorfer said in a press release that without additional stimulus such as "significant tax relief" the unemployment rate will continue to rise in the medium-term.

Various industry groups and employment agencies also joined the calls for tax relief throughout the day, with other options also to lower payroll tax and to introduce a bonus system to encourage the employment of older persons.

Even with the rising jobless figures, the most recent Eurostat calculations have Austria's unemployment rate at 4.9 percent ranking it among the lowest in the European Union along with neighbouring Germany. Endit

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