OVER 30 per cent of the unemployed in Europe are in Spain.New figures show that Spain has a total of 17.9 per cent of its workforce out of work.
In total, there are nearly two million more unemployed now than there were in the same quarter in 2008.
The number of unemployed people rose by 126,700 to 4.14 million during April, May and June — taking the Spanish jobless rate to more than twice the EU average.
It is by far the continent’s unemployment blackspot.
It means that, compared with the same quarter in 2008, a further 1.76 million Spaniards have lost their jobs.
However, the figures were not quite as bad as some economists had expected, prompting speculation that Spain — whose economy has been rocked by a property crash — may be past the worst.
They had predicted the jobless rate to hit 18.5 per cent in the quarter and said the lower figure could suggest that the second phase of the Spanish government’s emergency €18 billion package to stimulate the economy, launched in May last year, might be working.
The proposals saw €10 billion worth of tax rebates for individuals and businesses last year and a further €8billion worth of measures, including tens of thousands of new infrastructure projects, this year.
Xavier Segura, analyst at Caixa Cataluna bank, said: “Although the rate of unemployment growth is still intense, we are seeing a significant slowdown. This could be due to seasonal factors such as the Easter holiday week having fallen in April this year and the Spanish government’s infrastructure investment plan.”
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