Friday, April 29, 2011

Spain's jobless rate tops 21% as all major sectors lose jobs

Spain's unemployment rate rose nearly a point to 21.29%, with 4.9 million jobless for the first quarter of 2011, the government reported Friday, as the prolonged economic crisis continues to squeeze the nation.

Some analysts had predicted the number of jobless might surpass 5 million. But while that didn't happen, the latest statistics were another blow to the economy and to the embattled socialist government.

The numbers for the fourth quarter of 2010 -- 20.33% unemployment and almost 4.7 million jobless --- already represented the highest joblessness rate in 13 years.

The latest numbers, for the first quarter of this year, added more somber news. The number of unemployed increased by 213,000, pushing the overall number to 4.9 million.

All major sectors --- industry, construction, services and agriculture --- shed jobs during the quarter. The number of Spanish households in which no adult had a job increased by 58,000, to a new total of 1.38 million, the government said. (read more)