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Economy
Spain's unemployment rate spirals to 19.3%
2009-11-05
Official figures have revealed that Spain's unemployment rate has reached 19.3% (one of the highest of any European region) as the economy has been hit by a severe slump within the construction industry, which has led to a significant amount of job losses.

Spain's jobless rate is more than double the 9.2% rate for the EU as a whole.

The total number of jobless in Spain is 3.8 million - nearly a million more than a year ago while the number of people claiming unemployment benefits in October grew by 98,906.

However, Spain's unemployment rate is slightly below the 19.7% rate recorded for Latvia.

In a bid to create jobs within the construction sector, the Spanish Government has spent €8 billion (£7.1 billion) on a stimulus package to create 400,000 extra jobs.

A recent report said unemployment in Spain could reach 25% in the next three years as a result of the severe slump within the construction industry.
Are they still paying Hispano-Americans to go home?
Posted by:Fred

#5  What's Californias unemployment?

They had a similar fetish for credit driven building being the "backbone" of economic growth.
Posted by: Bright Pebbles   2009-11-05 12:18  

#4  Always warms the cockles of my heart when a herd of listless, waddling bovine in front of me present their "Vision" card at the check-out counter. One must wonder how long it will be until none of us will be able to pay cash.
Posted by: Besoeker    2009-11-05 10:25  

#3  Well then, their green investment has obviously paid off. Look how many people no longer have to work. Or something.
Posted by: Whiskey Mike   2009-11-05 09:22  

#2  Spain is another example (besides Michigan) of a place which heavily and publically invested in green tech for economic growth.
Posted by: lord garth   2009-11-05 07:28  

#1  How long will it take Obambia to caught up?
Posted by: g(r)omgoru   2009-11-05 06:26  

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