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Youth Employment: Danger from Austerity Package

Published: February 15, 2012; 17:10 · (Vindobona)

The government aims for increasing the retirement age in order to cut pension costs. Now, the director of the Austrian labor market agency (AMS) warns of a rise in youth unemployment.

Youth Employment: Danger from Austerity Package / Picture: © AMS

According to the government´s plans, the retirement age will rise by four years until 2020. In future, the government fixed that early retirements require 40 insurance years instead of 37.5 years. As a result, the retirement age will rise as workers remain in the labor market.

What has not been considered is a potential rise in youth unemployment. Johannes Kopf, head of AMS,…

This article includes a total of 168 words.

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