Spain’s unemployment rate spikes to 22.9%, the highest in 15 years
Madrid, Jan, 27: Spain’s unemployment rate spikes to 22.9%, the highest in 15 years, putting more pressure on PM Mariano Rajoy to deliver on his election pledge to create jobs in a contracting economy.
The unemployment data in the Q4 from 21.5% in the previous quarter, the National Statistics Institute in Madrid said on Friday.
Spain’s unemployment rate is more than double the euro- region average and exceeds the median estimate of 22.2 % in a Bloomberg survey done with seven economists.
Unemployment “is the main source of vulnerability of the Spanish economy and this is something that we hope to start to fix in the short term,” Economy Minister Luis de Guindos said today on Bloomberg Television in Davos, Switzerland. “We have to take a lot of decisions because there are some things that don’t work properly in the labor market in Spain.”
Spain is home to a third of the euro zone’s unemployed, as per the EU’s statistics office, which estimates that half of young Spaniards are out of work.
Madrid, Jan, 27: Spain’s unemployment rate spikes to 22.9%, the highest in 15 years, putting more pressure on PM Mariano Rajoy to deliver on his election pledge to create jobs in a contracting economy.
The unemployment data in the Q4 from 21.5% in the previous quarter, the National Statistics Institute in Madrid said on Friday.
Spain’s unemployment rate is more than double the euro- region average and exceeds the median estimate of 22.2 % in a Bloomberg survey done with seven economists.
Unemployment “is the main source of vulnerability of the Spanish economy and this is something that we hope to start to fix in the short term,” Economy Minister Luis de Guindos said today on Bloomberg Television in Davos, Switzerland.
“We have to take a lot of decisions because there are some things that don’t work properly in the labor market in Spain.
”Spain is home to a third of the euro zone’s unemployed, as per the EU’s statistics office, which estimates that half of young Spaniards are out of work.
