resources. Unemployment hit a record low of 0.7–0.8% in 1961–1966 and 1970–1971. Ludwig Erhard, who served as Minister of the Economy in Chancellor Adenauer's cabinet from 1949 until 1963 and later became Chancellor, is often associated with the West German Wirtschaftswunder. Austria Austria was also included in the Marshall Plan and can thus be included in any consideration of the Wirtschaftswunder. Through the nationalisation of key industries (VOEST, AMAG, Steyr-Puch) and yet more long working hours, full economic capacity was reached. Using West Germany as a guide, the currency was stabilised when the Schilling was reintroduced in place of the Reichsmark. This economic policy was known in journalistic circles as the Raab-Kamitz-Kurs, named after Julius Raab, Austrian chancellor from 1953, and his Finance Minister Reinhard Kamitz similar to the West German Adenauer-Erhard-Kurs. By state major projects such as the Kaprun hydroelectric plant or the West Autobahn, unemployment fell and social peace was ensured. In the 1950s the first Gastarbeiter from Southern Italy and Greece arrived in the country, as more manual labour was required to maintain the economic upswing. See also Economy of Germany GARIOA History of the Ruhr District Industrial plans for Germany Japanese economic miracle Marshall Plan Miracle on the Han River Miracolo economico Morgenthau Plan Post-World War II boom Record years Social market economy Spanish miracle Trente Glorieuses Notes External links Interview with Gunther Harkort Representative of the Federal Republic of Germany to the Economic Cooperation Administration (ECA), 1949–1952. Interview with General Lucius D. Clay Deputy to U.S. General Dwight D. Eisenhower, 1945; deputy military governor, Germany (U.S.) 1946; commander in chief, U.S. Forces in Europe and military governor, U.S. Zone, Germany, 1947–49; retired 1949. Interview with General William Henry Draper Jr. Chief, Economics Division, Control Council for Germany, 1945–1946; Military Government Adviser to the Secretary of State, Moscow Conference of Foreign Ministers, 1947; Under Secretary of War, 1947; Under Secretary of the Army, 1947–1949; 'Time Magazine Faceless Crisis', 4 April 1949. Letter from Konrad Adenauer to Robert Schuman (26 July 1949) Warning him of the consequences of the dismantling policy. Picture of demonstration against dismantling (7 June 1949) Workers in the Ruhr demonstrate against the dismantling of their factories by the Allied forces of occupation. Picture: dismantling the Iron and Steel Industry 'We want to work, we will help you to rebuild Europe' Workers at dismantled plant protest. Picture: 12,000 factory workers demonstrate against the dismantling