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Unconditional job guarantee to be trialled in Austria, in world first — Jon Stone

Summary:
Out-of-work people in Austria will be guaranteed paid jobs as part of a new trial policy that could transform how countries deal with unemployment.The pilot study, which will eliminate long-term unemployment in the town of Marienthal practically overnight, has been designed by Oxford University economists at the behest of the Lower Austria’s department of work.It will see all long-term unemployed people in the town, an estimated 150 individuals, given work in fields such as childcare, gardening or home renovations, and paid a full wage....Pilot study in one town.Independent (UK)Unconditional job guarantee to be trialled in Austria, in world firstJon Stone

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Out-of-work people in Austria will be guaranteed paid jobs as part of a new trial policy that could transform how countries deal with unemployment.

The pilot study, which will eliminate long-term unemployment in the town of Marienthal practically overnight, has been designed by Oxford University economists at the behest of the Lower Austria’s department of work.

It will see all long-term unemployed people in the town, an estimated 150 individuals, given work in fields such as childcare, gardening or home renovations, and paid a full wage....

Pilot study in one town.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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