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Unread postPosted: Wed Jan 04, 2012 11:42 am 
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Spain’s Labour Ministry said the busy Christmas period failed to ease the rigours of the debt crisis and pushed unemployment up 0.04pc in December from a month earlier to 4.42m people.

Over 2011 unemployment in Spain soared 7.9pc, or 322,286 people. Almost a third of all the eurozone’s unemployed people are Spanish while nearly a half of young Spainiards are out of work.

The tough austerity measures outlined by the new prime minister, Mariano Rajoy, are likely to push Spain’s jobless rate even higher.

However the German job market is defying the crisis. The Federal Labour Office said that unemployment fell by 22,000 in December to 6.8pc from 6.9pc. Economists had expected unemployment to drop by 10,000 and for the rate to remain 6.9pc, according to a Reuters poll.

The figures showed that unemployment averaged at 2.976m during 2011 - the lowest level for 20 years - while the jobless rate was 7.1pc. During the year, the number of people in work rose 1.3pc surpassing 41m for the first time.


http://www.telegraph.co.uk/finance/fina ... ation.html


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Unread postPosted: Wed Jan 04, 2012 12:09 pm 
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2012 will be make or break for the euro.

it's simply unsustainable.



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Unread posts View first unread post Spain jobless rate hits new eurozone record

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