Deficit-cutting off course as Spain's jobless total climbs
Tuesday 05 March 2013
Spanish unemployment hit a record 5.04 million after another 60,000 rise in the jobless count in February.
Although the rise was the lowest February increase for five years, the beleaguered economy is on course to miss deficit-cutting targets in 2013 and the European Union forecasts that Spain's unemployment rate could hit 27 per cent this year.
Guillaume Menuet, a Citigroup analyst, said: "A turnaround in the jobless rate in 2013 is very unlikely." Youth unemployment has soared above 50 per cent and the nation accounts for a third of all eurozone unemployment.
Spain's centre-right government led by Mariano Rajoy, pictured, is imposing austerity measures against the backdrop of the nation's second recession in just over three years and a £100bn bailout of its struggling banks.
The Bank of Spain warned last week that the recession would extend into the current quarter.
- 1 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 2 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 3 Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
- 4 John Travolta addresses former pilot's gay romance allegations publicly for the first time
- 5 Kanye West stops concert after two fans don't stand up - doesn't realise one is in wheelchair and the other disabled
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Scottish independence: Police will be on high alert on Friday whatever the result
John Travolta addresses former pilot's gay romance allegations publicly for the first time
QS university world rankings: Imperial College London leapfrogs Oxford to join Cambridge as best British university
Scottish independence exclusive: Millions of banknotes sent to Scotland in case Yes vote sparks run on ATMs
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
Portuguese academic says British are 'filthy, violent and drunk'
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
iJobs Money & Business
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...
£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...