Austria: Unemployment Rate to Remain at Record High

Professional ServicesBanks ♦ Published: March 25, 2014; 16:23 ♦ (Vindobona)

The Austrian unemployment rate is expected to remain at a record high even in 2015.

The biggest cut in jobs is expected in the banking industry. / Picture: ©

The Austrian job center AMS anticipates the unemployent rate to increase to 8.1 percent in 2014, up from 7.6 percent last year, and remain at around 8.0 percent next year. This is the second-highest unemployment rate in the history of the Second Republic. Only in 1953 the umemployment rate came at 8.7 percent. Johannes Kopf, CEO of AMS, expects a decline of the unemployment rate only in…