Unemployment has touched the turf of Austria and hints of a great increase in the same. So, the weak economic system has hampered the employment opportunities to the youth of the country.
This year, the rate of increase in unemployment is nine percent. No doubt, Austria and Europe's economy has been fragile recently, resulting in drastic increase in unemployment in these areas.
Statistics reveal that presently, 7,776 people are under training. This states that 330,309 people would be jobless in near future. Unemployment rate has climbed by 9.5% from last year. According to the details provided by Austria, employment had touched 6.7% in May.
Austria's regions that have been affected to the maximum with employment are Upper-Austria, Carinthia, Burgenland and Styria. Vorarlberg has showed least increase in unemployment. Vienna has suffered from unemployment with 6.1% rise in the same. However, the place has witnessed an increase of 20.3% in training.
Austria is topping the list of unemployment in European Union. It is further followed by Germany and Luxemburg. It had 3,839 less vacancies in May.
In response to the statistics, Social Affairs minister, Rudolf Hundstorfer (SPÖ) has said, "The European economy suffers from hypothermia, as before, and that also has repercussion on the Austrian job market".
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