Don't miss

Replay


LATEST SHOWS

BUSINESS DAILY

President Trump pulls US out of TPP trade deal

Read more

IN THE PAPERS

'Donald Trump is rolling back the clock on diversity in the cabinet'

Read more

IN THE PAPERS

Did France's left inflate turnout figures in round one of the primary?

Read more

ACROSS AFRICA

Dozens killed in attack on military camp in Mali

Read more

THE DEBATE

Splintered left: French Socialists divided ahead of primary run-off (part 1)

Read more

THE DEBATE

Splintered left: Are Europe's Social Democrats obsolete? (part 2)

Read more

EYE ON AFRICA

Gambia: New president says Jammeh has agreed to cede power

Read more

ACROSS AFRICA

France finally grants citizenship to Senegalese veterans

Read more

THE OBSERVERS

Pollution threatens island paradise of Mauritius, and one Cameroonian expat's quest to bring safe drinking water to his country

Read more

Europe

Spain jobless rate approaches 23 percent

Text by News Wires

Latest update : 2012-01-28

Unemployment in Spain shot up to 22.8 percent in the fourth quarter of 2011, the National Statistics Institute reported Friday. Spain is the eurozone country worst hit by joblessness, with 5.3 million people out of work at the end of December.

AP - The National Statistics Institute says Spain’s unemployment figures has surpassed the 5 million mark, with the jobless rate shooting up from 21.5 percent to 22.8 percent in the fourth quarter.

The institute said Friday 5.3 million people were out of work at the end of December, up from 4.9 million in the third quarter.

The figure was lower than the 5.4 million estimated by the finance minister Thursday.

Spain already has the highest unemployment rate in the 17-nation eurozone.

The new conservative Popular Party government pledges new labor reforms to try to halt further job losses.

The economy is expected to slide back into recession this quarter because of declines in GDP in the last quarter of 2011 and the first of 2012.
 

Date created : 2012-01-27

  • SPAIN

    Unemployment rate 'astronomical', says Spanish PM

    Read more

  • MARKETS

    Spain doubles target at first 2012 bond auction

    Read more

  • SPAIN

    Spain unveils tax hikes, warns deficit will rise

    Read more

COMMENT(S)