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Spain’s jobless rate hits new record high of 26.6%

Press TV – January 9, 2013

New data shows Spain’s jobless rate hit a new record high of 26.6 percent for the month of November 2012, amounting to 6.157 million Spaniards.

The European Union’s statistics office, Eurostat, released the new data on Tuesday, which showed an increase of 0.4 percent from October’s reading of 26.2 percent.

The EU’s Employment Commissioner Laszlo Andor urged Spain’s government to find a political strategy to decrease the number of people without work

Andor said he is extremely worried about the unemployment rate for the country’s youth under 25, which was reported at 56.5 percent in November 2012, a 0.7 percent increase from 55.8 in October last year.

Spain accounts for about a third of the 18.82 million EU citizens looking for work.

On Tuesday, Eurostat also presented a new record high jobless rate for the eurozone, at 11.8 percent in November 2012, up from 11.7 in October the same year, marking the 19th consecutive month with increasing jobless rates.

Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures, which have triggered incidents of social unrest and massive protests in many European countries.

January 9, 2013 - Posted by | Economics | , ,

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