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Spain: Unemployment hits highest in 15 years

Unemployment in Spain is close to the five million mark and still rising, according to figures published Friday by Spain's National Institute of Statistics (INE).

The INE study Inquest into the Active Population said that 4,978,300 Spaniards are currently out of work with the unemployment rate climbing to 21.5 percent in the third quarter of 2011.

A number of 403,600 more people are now out of work in Spain than in October 2010, a rise of 8.8 percent, according to the study and the trend shows no signs of ending.

The unemployment rate between April and June of 2011 stood at 20.89, while Spain has not suffered unemployment rates as high as now since the end of 1996, when the level of unemployment stood at 21.60 percent.

The third quarter of the year saw unemployment rise thanks to 129,600 Spanish nationals losing their jobs along with 15,000 foreign residents in the country.

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Added: Oct-31-2011 Occurred On: Oct-28-2011
By: Shineichimaesendo
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Regional News, Politics
Tags: Spain, Unemployment, hits, highest, in, 15, years, CCTV, News, CNTV, English
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