Jobs

Spain's Unemployment Edges Closer to 5 Million

SpainSpain’s number of unemployed reached a the staggering level of 4,907,817 last month, according to the government’s labor arm. That almost certainly means that the 25% unemployment figure the nation announced recently will go even higher. The labor ministry reported (with a little help from Google Translate):

By sector of origin of unemployed persons, 85% of the increase in unemployment in November occurs in workers from the services sector (63,166 people, or 2.12%), followed by workers from agriculture, (5,777 people, 3.12%) and industry (increase of 4,670, 0.87%).

Meanwhile, unemployment among construction workers from falls in 2271 people (0.30%). The group of people with no previous job increases in 2954, representing a growth of 0.78%.

None of the sectors showed any improvement. If there is any argument that austerity will not work, it is in Spain’s joblessness. Further cuts to the nation’s budget will rob it of any chance to create stimulus packages that might improve the employment situation, even if slightly.

Douglas A. McIntyre

Are You Ahead, or Behind on Retirement? (sponsor)

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: am I ahead, or behind on my goals?

Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With Zoe Financial’s free matching tool, you can connect with trusted financial advisors in minutes. 

Why wait? Click here to get started today!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.