Worst job figures in Spain since 1970s as unemployment in Catalonia exceeds 24%

The rate of unemployment in Spain has risen to a colossal 26% according figures released by the Madrid government, with Catalan unemployment hitting 24%. The new figures are double the EU average. For those below the age of 25 the numbers are far worse at 55% after a deep recession and swingeing cuts across the board.

Although Spain tends to suffer from high unemployment figures generally where 11% is considered low – compare that with high jobless numbers in the UK – things haven’t been this bad since the 1970s.

Is there any end in sight though?

A Citigroup analyst who spoke to the BBC thinks unemployment will continue to rise during the first quarter of 2013. He doesn’t say what will happen after that though.

I’ve seen many friends and acquaintances lose their jobs recently and it seems difficulty to believe there might be light at the end of the tunnel. We can only hope things do improve soon.

Source: BBC

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