Spanish unemployment jumps to record high of 17.4%

Posted by Kendall Harmon

More than four million Spanish people are out of work. According to the country's National Statistics Institute a record high figure of 17.4 per cent were unemployed in the first quarter of the year.

Unemployment leapt from 13.9 per cent in the fourth quarter of 2008, the biggest quarterly jump since 1976. Joblessness in Spain has almost doubled in a year.

The Bank of Spain had previously forecast that unemployment would not surpass 17.1 per cent for the year. Alarmingly, 1,068,400 families have every member out of work.

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Filed under: * Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryEuropeSpain

Posted April 25, 2009 at 2:00 pm [Printer Friendly] [Print w/ comments]

1. Alice Linsley wrote:

Yes, secular Socialism has not been a great success in España.

April 25, 4:50 pm | [comment link]
2. Jeffersonian wrote:

As opposed all those other places where it’s come off just boffo.  Places like…uh…ummmm….lemme get back to you on that.

April 25, 6:26 pm | [comment link]
3. azusa wrote:

Their unemployment looks good compared to their birth rate.

April 25, 6:26 pm | [comment link]
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