Blogging from the Highlands of Scotland until I return to the Murcia region of Spain
in the Autumn for a month or so

'Fair and softly goes far' - Miguel de Cervantes

Thursday, 8 January 2009

Unemployment in Spain rises above 3,000,000

Unemployment in Spain rose almost 140,000 in December, the ninth consecutive month it has risen, and breached three million for the first time in over 12 years. According to Eurostat figures, Spain's unemployment was already 13.4 per cent in November (the highest in the Eurozone) before the further rise in unemployment in December, against a Eurozone average of 7.8 per cent for November.

Unemployment is expected to grow further in 2009 and the year is predicted to be 'very difficult' although it is hoped (by Minister of Manpower and Immigration, Celestino Corbacho) that the steep rise in unemployment has 'plateaued' and will not rise to 4 million. However he does not believe that the crisis in the construction industry has yet bottomed-out, even if he does think that the first signs of recovery in the economy will start to become evident during the coming year. I hope he is correct.

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