According to figures released by the Employment Ministry, the number of people registered at employment offices as being out of work in December declined by 59,094 when compared to November, bringing the grand total of unemployed to 4.848 million. December is usually a good month for employment due to the long Christmas festive period.
Eurozone back in recession
The eurozone,as a whole, has returned to recession as the region’s debt crisis continues to have a negative impact on demand, the economy of the 17-nation bloc contracting by 0.1% between July and September, after shrinking 0.2% in the previous three months, according to Eurostat. The eurozone was last in recession in 2009, when the economy contracted for five consecutive …
Unemployment hits new record high
Unemployment in Spain has hit a new record high with 5,639,500 people out of work at the end of March, that’s 24.4% of the total workforce. The figures were announced just after Standard & Poor’s downgraded Spanish sovereign debt by another two notches to BBB+.
Cost of borrowing rises
The cost of borrowing for Spain increased to 6.1% on Monday and this has once again raised the spectre of a bailout.
Still in recession
The Spanish economy shrank by 0.1% in the last quarter of 2009 making it the last major economy in recession.
Recession, it’s official now
The Government has confirmed that Spain is now officially in recession.
Making it official
It makes all the difference now we know that the Eurozone is ‘officially’ in recession.