Unemployment in Spain rises to 74,296 people during the month of November

Unemployment in Spain rises to 74,296 people during the month of November
* 04/12/12
MERCURY DIGITAL - SPAIN -

Jaime Reina, AFP. - Unemployment in Spain rose by 74,296 people during the month of November, bringing the total number of unemployed to 4,907,817, said Tuesday the Ministry of Labour, in a time when the country is torn between goal deficit reduction and economic recession.

The percentage increase for the month of October is 1.54%, while that of the last 12 months comes to 11.02% (487,355 more unemployed).


According to the National Statistics Institute (INE), which uses a different method of calculation, the unemployment rate in the third quarter exceeded the historical rate of 25%, with 25.02%, the highest peak in the industrialized world after Greece (more than 52% among young people aged 16 to 24 years). However, the government still expects a rate of 24.6% by the end of 2012 and a slight decrease to 23.3% in 2013.

The November figures are inflated by a time effect, the ministry said in a statement last month explaining that there was an increase of 37,983 people for "special agreements extinction mandatory Social Security for carers of people in a situation of dependency. "

Without this measure, the number of unemployed would have increased by 0.75% from the previous month. Women are the most affected by the rise in unemployment, a rise of 2.08% compared to October, compared with a rise of 0.98% among men. On the other hand, decreases slightly among young people under 25 years (0.21%).

The service sector is still the largest increase registered unemployed (63,166 more unemployed), ahead of agriculture (5771) and industry (4670), down only in construction (2271). Spain, affected by the bursting of the housing bubble in 2008, came back into recession in late 2011, less than two years after having left it.

Immersed in a race for the reduction of the public deficit to decrease from 9.4% of GDP in 2011 to 2.8% in 2014, initiated a vast program of reforms to save between now and that date 150,000 million euros, multiplying cuts budget and tax increases. But according to analysts, these austerity measures will slow a little economic recovery of the country and the conservative Spanish government also resigned to another year of recession in 2013.

In a country where one in four people of working age are unemployed, this regime has caused social unrest and reduced costs of Spanish households. The retail has been falling 28 months consecutive signal prudence of households, who were dealt a further blow in September with the increase in VAT from 18% to 21%.