Connect to share and comment

Austrian unemployment rises to 6.7%: official data

PlacardEnlarge
(Globalpost/GlobalPost)

The unemployment rate in Austria rose to 6.7 percent in July from 6.5 percent in June, but remains the lowest in the European Union, the labour ministry said on Thursday.

According to figures from Eurostat, which uses a different basis for its calculations, the rate was 4.6 percent in June, the latest data available, marking the lowest in the EU.

But the economy remains weak, with Austria's two official institutes forecasting growth this year of just 0.4-0.6 percent as weak conditions in the rest of the eurozone hit demand for its exports.

"The recovery of the Austrian economy is very moderate," the labour ministry said. "Economists are not forecasting a sustainable recovery until the autumn or next year."

sgl/stu/hd

http://www.globalpost.com/dispatch/news/afp/130801/austrian-unemployment-rises-67-official-data