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Spain’s unemployment rate spirals to 19.3%

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by Kay Mitchell
Spain’s unemployment rate spirals to 19.3%

Official figures have revealed that Spain’s unemployment rate has reached 19.3% (one of the highest of any European region) as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses.

Spain’s jobless rate is more than double the 9.2% rate for the EU as a whole.

The total number of jobless in Spain is 3.8 million – nearly a million more than a year ago while the number of people claiming unemployment benefits in October grew by 98,906.

However, Spain’s unemployment rate is slightly below the 19.7% rate recorded for Latvia.

In a bid to create jobs within the construction sector, the Spanish Government has spent €8 billion (£7.1 billion) on a stimulus package to create 400,000 extra jobs.

A recent report said unemployment in Spain could reach 25% in the next three years as a result of the severe slump within the construction industry.

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News posted: November 3, 2009

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1 Comment

  1. Spanish Civil Servants. The best way to live unaware of the world’s problems.

    Spanish civil servants do not have to care about problems we worry about every day in our lives. They maintain their jobs whether they performance or not. Even if they kill their boss they would never lose their jobs. Their enjoy lifetime contracts and once they get the placement, by merits or contacts, they can relax for life not caring about the problems around the world neither the problems in their own country, such as unemployment ,since they will never have to face that situation.

    Comment by Francisco — April 12, 2010 @ 11:04 pm

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