Skip to comments.Spain unemployment hits record high (27.2%)
Posted on 04/25/2013 8:01:54 AM PDT by Rennes Templar
Spain's unemployment rate soared to a new record of 27.2% of the workforce in the first quarter of 2013, according to official figures.
The total number of unemployed people in Spain has now passed the six million figure, although the rate of the increase has slowed.
The figures underline Spain's struggle to emerge from an economic crisis which began five years ago.
On Friday, Prime Minister Mariano Rajoy will unveil fiscal and policy measures aimed at halting recession in the eurozone's fourth-largest economy.
"These figures are worse than expected and highlight the serious situation of the Spanish economy as well as the shocking decoupling between the real and the financial economy," said Jose Luis Martinez, strategist at Citi.
The unemployment figure is the highest since at least 1976, the year after dictator Francisco Franco's death began Spain's transition to democracy.
The jobless rate, which stood at 7.9% in mid-2007, has risen relentlessly since the collapse in 2008 of a Spain's labour-intensive property boom.
On Wednesday, Mr Rajoy told parliament that the job situation for the entire year "will not be good, but it will be less bad than in the preceding years".
"Next year we will have growth and jobs will be created in our country," he said.
Meanwhile, in France, the second biggest eurozone economy, official figures to be released later on Thursday are also expected to show a record number of jobless workers.
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Is that the number including those that have stopped looking for work, or on disability, or is that the real number?
You know, the one we refuse to admit.
Wait till we add 11 million illegals to the official work force numbers.
Probably the true number over here as well.
To top this off they also have unimpeded immigration where hordes of thieves from places east prey on locals and tourists alike.
I went to visit my family’s homeland in 2010 and the anger bordering on desperation was apparent everywhere. It’s of their own making, of course, as every waiter we encountered at every restaurant or tapas bar, for example, was not a Spaniard or a Catalonian. In every occasion it was a foreigner.
Hey, I know! They should build some MORE windmills! That’ll make lots of GREEN jobs! Oh, wait ...
Yup. I was gonna guess there number was only slightly higher than the “real” number here. Not the phony jobs claims numbers we’re force fed every week trying to get us to believe that things are wonderful and we’re “in recovery mode” and have “turned the corner”. (Just an observation based on (of all places) ebay, things that used to move fairly fast with a lot of bids are seeing minimal amount of bidding and lower prices for the bids put out there. At least in items I would be interested in.)
My friends all tell me Barcelona is the greatest place on Earth.
guess I don’t know what I’m missing.
RE: Spain unemployment hits record high (27.2%)
I am interested to know how they measure “unemployment”. Like we do here, Do they NOT COUNT those who have given up job search altogether, or do they include these in the 27.2%?
If America had included those who have given up job search, the unemployment rate would be close to 16%.
What does Spain do in her labor survey?
Gee, what a surprise /sarc —
France & Spain elect socialist leaders and Voila! Unemployment skyrockets.
Isn’t socialism great!
It certainly wasn't after Bayern Munich tanned their hides the other day.
Guess that explains why Manuel had to go to England to find work.
It’s a great city except for all the thieves and illegal immigrants that roam the tourist areas.
“What does Spain do in her labor survey?”
I’ve no clue. I have friend whose family lives there and he says it’s tough going.