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Austria's unemployment rate soars in October
(MENAFN) According to the latest employment figures released, Austria's unemployment rate has jumped by 7.8 percent in October to reach 8.1 percent on-year, Xinhua reported.
The number of long-term unemployed rose sharply by 111 percent on-year, with the average length of time for that workforce segment to find new work also increasing by nine days.
The unemployment figures for those aged over 50 increased 14.5 percent, while foreign nationals' unemployment also saw an increase of 22 percent and the disabled up 17.8 percent.
"The situation is caused by the overall gloomy economic situation in Europe, and once again called for comprehensive tax reform in Austria as a means of promoting economic growth," Minister of Social Affairs said.
The number of long-term unemployed rose sharply by 111 percent on-year, with the average length of time for that workforce segment to find new work also increasing by nine days.
The unemployment figures for those aged over 50 increased 14.5 percent, while foreign nationals' unemployment also saw an increase of 22 percent and the disabled up 17.8 percent.
"The situation is caused by the overall gloomy economic situation in Europe, and once again called for comprehensive tax reform in Austria as a means of promoting economic growth," Minister of Social Affairs said.
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