Strong Rise in Austrian Unemployment

Austrian unemployment rose strongly in October due to weak export demand and seasonal factors, with the number of people out of work 11.8 percent higher year-on-year, government figures showed on Monday.

The unemployment rate in Austria, which has largely escaped the economic woes suffered by other eurozone members in recent years, rose 0.7 percentage points to 7.4 percent.

According to European statistics agency Eurostat, which uses different calculations, Austria in September had the lowest jobless rate -- 4.9 percent -- in the 28-nation European Union.

Labor Minister Rudolf Hundstorfer said on Monday that "without an international economic recovery a fall in unemployment is unfortunately not expected in the coming months".

He said that "restrictive" government spending by other European countries would continue to hit demand for Austrian exports.