The unemployment rate in financially distressed Spain rose to 24.6 percent in the second quarter, bringing the number of jobless to 5.7 million, officials said. The National Statistics Institute said 53,500 were added to the unemployment total, Olive Press reported. The second-quarter rate is up 0.2 percent from the previous three months, the institute said. The unemployment rate for people below the age of 25 was 53 percent. Olive Press said Spain's unemployment rate is the highest in the eurozone and surpasses the country's previous high of 24.5 percent in 1994. Spain's economy is swooning and economists told the BBC they see few signs of improvement in the short run. "Things are only going to get worse," Capital Economics' Ben May said. "With the economy unlikely to expand any time soon, and the dire position the economy is in, Spain is probably more likely to fall deeper into recession." Earlier this week small Spanish union carried out raids on two grocery stores in one of the poorest regions of the country to try to draw attention to the problems facing the unemployed, The Wall Street Journal reported Friday. Hundreds of members affiliated with the Andalusian Union of Workers, representing primarily rural laborers in southern Spain, took 12 shopping carts full of food staples from one supermarket on Tuesday and pressed another grocer to donate a similar amount of food on Wednesday. Most of the items were given to local food banks.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor