Number of unemployed persons in Austria passes 400,000 mark

The number of unemployed persons in Austria crossed the 400,000 mark in October, increasing 0.6 percent to reach 8.7 percent or 410,854 people without work, the ministry of social affairs revealed in new figures on Monday.

The total marks a 5.6-percent increase in the unemployment rate over October 2014, but still keeps Austria at the fifth-lowest unemployment rate within the European Union. By the Eurostat calculation method, the rate comes in at 5.7 percent.

In line with an ongoing trend, foreigners were heavily impacted by the unemployment increase with 94,334 registered as being unemployed in October, an increase of 12,090 year-on-year. As well, for people aged 50 and over, unemployment increased 11,558 to 91,320 in total.

The average length of time needed for unemployed persons to find work again also increased to 126 days, 19 days longer than was recorded in October 2014, while the number of long-term unemployed, persons who have been out of work for 12 months or longer, increased 29.8 percent.

In spite of the figures, Social Affairs Minister Rudolf Hundstorfer said the "first signs of easing" in the until-now continuously upward trend have been visible, stating in a press release the autumn unemployment increase was flatter than earlier, and that 32,000 more persons were employed overall than were a year prior.

In addition, he said he expected measures agreed on last week by the government and employment market representatives to tackle the rising unemployment rate would bring about a stimulation of the economy. Endit