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Austrian unemployment to climb to near 10 pct by 2018: think-tanks

Xinhua, December 17, 2016 Adjust font size:

The Austrian unemployment rate is to climb to nearly 10 percent by 2018, two leading economic institutes have revealed in new estimations on Friday.

The Austrian Institute of Economic Research (WIFO) and the Institute for Advanced Studies (IHS) have forecast a 2018 unemployment rate of 9.5 percent and 9.6 percent respectively, as per the domestic unemployment calculation method.

This would represent a 0.4 to 0.5 percent increase over the current jobless rate of 9.1 percent.

The increase comes despite expectations by both institutes that the gross domestic product (GDP) growth will remain relatively stable at around 1.5 percent in the coming years. Endit