Unemployment Insurance, compulsory state insurance for the purpose of covering financial loss in case of unemployment. Its legal foundation is the Arbeitslosenversicherungsgesetz (unemployment insurance law) of 1958 (last amendment, BGBl I 179/99, 1999). Main institution: Austrian Employment Services. Insurance contributions are paid by the employee and the employer (50% each). Unemployed people are eligible for benefits if they are willing and able to work, are de facto available for work placement, have worked the minimum period of time for eligibility and have not exhausted their unemployment benefits entitlement.