Financial and business news from Bulgaria

Historic maximum of unemployment in Austria in April

Austria's unemployment rate in April reached a historic maximum. This is a consequence of the paralysis of the economy brought about by measures in the battle against the coronavirus. This was announced today by the Austrian Institute of Employment, quoted by AFP.
At the end of April, 571,477 working-age people registered with unemployment bureaus, up from 210,275 a year earlier. This is an increase of 58 per cent, reflecting a sharp decrease in coronavirus related activity since mid-March, BTA transmitted.

The unemployment rate at the end of April reached 12.8 per cent versus 8.1 per cent in February before the crisis began. The national system for measuring unemployment is different from the Eurostat scheme.

The European Statistics Office does not yet have data for April, but for February it reported 4.4 per cent.