BREAKING NEWS

Now Reading:

Spanish unemployment rises for first time in 5 months


economy

Spanish unemployment rises for first time in 5 months

With the end of Summer and the tourist season winding down Spain’s jobless rate jumped in August.

The number of people seeking work increased by just over 38,000 from July.

Spain has the European Union’s highest unemployment rate at 24.6 percent of the workforce when it was last calculated at the end of June.

For the four previous months unemployment had declined, but the total is now back up to just under 4.63 million.

Outside a Madrid job centre Eduardo Meilan, who lost his job as a physicist in the medical sector, said: “There is no work. People have diplomas, they have studied in university, they have MA’s even, but it doesn’t open any doors. It could be that it doesn’t shut any door for you, but it’s not like before when if you studied you had a career.”

Meilan said he has now applied to work in Britain and in Canada.

Trying to accentuate the positive, the employment ministry said this was the smallest monthly rise since August 2006.

In addition unemployment fell among under-25-year-olds, who have been among those hardest hit by the recession. It was down by just over 4,000 from the previous month.

Next Article

economy

German court set to back emergency European bail out fund