Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

McCain's health vote backlash

Read more

THE DEBATE

The Macron Touch: Can the new French President be Libya's Peacemaker?

Read more

THE INTERVIEW

'Maduro's regime is a criminal dictatorship'

Read more

FOCUS

Kenyan authorities step up security amid Al-Shabaab threat

Read more

ENCORE!

Rock icons Midnight Oil on politics, passion and their long-awaited comeback

Read more

IN THE PAPERS

'Sleep tight beautiful boy': Charlie Gard's parents to take him off life support

Read more

EYE ON AFRICA

South Africa's 'Guptaleaks': New website aims to reveal extent of 'state capture'

Read more

IN THE PAPERS

Building walls: French protesters block access to hotel migrant shelter

Read more

BUSINESS DAILY

Google parent company's profits hit by EU fine

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)