Spain’s inflation, unemployment increase in Dec 2009

Spain’s jobless rate hit the record high for more than a decade in the month of December, touching the mark of 4 million and dealing a blow to José Luis Rodríguez Zapatero, Spain’s Socialist prime minister, who has made job creation the center of his economic plan.

While talking to reporters, the Labour Ministry said, “The number of Spaniards listed as unemployed rose by almost 55,000 in December to reach 3.92m. It makes 2009 the year with the highest unemployment level since at least 1997, the starting point for the current data series.”

The country’s jobless rate is the highest among the Eurozone economic systems. Approx. 20% of the workforce has no work as compared with a eurozone average of 9.8%.

According to the poll, the popular party was at 43.6%, more than 5% points ahead of the Socialists with 38.5%.

The Union Sindical Obrera trade firm expressed the fact that the news came as Spain took on the European Union presidency and, “more serious still, the job destruction and low level of employment that it will take us years to recover from.”

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