Unemployment nears 3.5 million, the highest since 1996
The number of unemployed in Spain reached 3.48 million last
month, the highest level since 1996, the country's Labor and
Immigration Ministry said on Tuesday.
In the case of foreign workers, the number of unemployed reached
more than 473,000, and of those jobless migrants, just over
320,000 come from countries that are not members of the European
Union.
Since February 2008, unemployment among foreign workers has
almost doubled, increasing by 83.11 percent.
In recent years, hundreds of thousands of immigrants came to
Spain seeking more economic opportunity, most of them from Latin
American, North African and Eastern European countries.
The economic crisis affecting Spain has shown itself most clearly
in sectors like construction and services, which just a few
months ago were supported in large measure by foreigners but are
now feeling the repercussions of the economic slowdown.
Global
On the global level, unemployment rose in February in Spain in all sectors, particularly in services, followed by construction.
On the global level, unemployment rose in February in Spain in all sectors, particularly in services, followed by construction.
The figures were announced on the same day that data about
consumer confidence were made public, and the latter showed a
decline in February after two rising months due to a worsening in
public perceptions of the current shape of the economy.
The Spanish economy has officially fallen into a recession for
the first time since 1993, according to figures released last
month that showed two consecutive quarters of negative growth in
the second half of 2008.
The INE statistics bureau reported that Spain's economy shrank 1
percent in the last quarter of 2008 compared with the previous
three month period, when gross domestic product slipped 0.3
percent relative to the second quarter.
GDP
Spanish GDP grew 1.2 percent for all of 2008, down 2.6 percentage points relative to 2007.
Spanish GDP grew 1.2 percent for all of 2008, down 2.6 percentage points relative to 2007.
The INE said a drop in domestic demand - only partially offset by
foreign demand for Spanish exports - was the main factor in the
decline in economic output in the fourth quarter.
Prime Minister José Luis RodrÃguez Zapatero's government said in
February that it expects the country's GDP to contract 1.6
percent this year, with the budget deficit hitting 5.8 percent of
GDP and unemployment rising to 15.9 percent
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