May 2011 Miscellaneous Economic Fundamentals
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Spain jobless rate hits euro zone record
Spain's unemployment rate rose sharply to a new euro zone high of 21.3 per cent in the first quarter of the year, with a record 4.9 million people out of work, the government said Friday. The rate was the highest reported by the country since 1997.
Joblessness during the January-March period jumped 1 percentage point from 20.3 per cent at the end of 2010, and adds pressure on Spain as it tries to recover from nearly two years of recession and convince investors that it can handle its heavy debt load.
Read the full article here.
Spain's unemployment rate rose sharply to a new euro zone high of 21.3 per cent in the first quarter of the year, with a record 4.9 million people out of work, the government said Friday. The rate was the highest reported by the country since 1997.
Joblessness during the January-March period jumped 1 percentage point from 20.3 per cent at the end of 2010, and adds pressure on Spain as it tries to recover from nearly two years of recession and convince investors that it can handle its heavy debt load.
Read the full article here.