3 Jan, 2012 @ 15:50
1 min read

Spanish unemployment hits record high

THE number of unemployed in Spain reached a record high in December with 4.42 million registered as out of work, according to labour ministry figures.

The number is the highest since data began being collected in 1996 and is the fifth consecutive month where the figures have risen, up 0.04 per cent.

It follows the announcement that the Spanish deficit for 2011 could top eight per cent of GDP, significantly higher than the official government target of six per cent.

The government has moved to plug the gap, slashing spending by 8.9 billion euros and introducing six billion euros of tax rises.

Finance Minister Luis de Guindos said: “The figures for the number of registered unemployed for the month of December confirm the deterioration of the economic situation during the second half of the year.”

James Bryce

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  1. And that unemployment does NOT include those no longer LOOKING for work and off Unemployment Benefits!
    Now if we could only legalize those 300,000 homes ..

  2. I remember reading in Granada Hoy 2 years ago that the unemployment rate was 32% in Granada province, it can only have got worse.

    As for all the jobsworth created all over Spain – take a look at how many ‘gardners’ your local council employs, not to mention Policia Local.

    Whilst typing this I see an article on the right from 2006 boasting how economic growth then was faster than France,Germany and Italy – thanks to the booming construction industry – you would have needed to be completely braindead not to ask the simple question – where are all the mug punters coming from to buy the crap built apartments and still they went on building – tomorrow will never come.

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