Go Finance Reporting in MADRID - Spain's unemployment rate soared 21.3 percent in the first quarter of this year. As many as 4.9 million people registered to lose his job, where the figure is the highest figure since 1997.
Unemployment during the period from January to March rose one percent from 20.3 percent at the end of 2010, and increase the pressure on Spain. The Spanish government is now trying to recover from the recession that has been more than two years and tried to convince investors that all this could overcome the problem of heavy debt.
"The country is struggling to shift from dependence on the construction sector, which supported growth for many years until the financial crisis emerged Spanish real estate bubble, and make the economy more competitive and reduce the national debt," said the Spanish government as quoted by AP, on Saturday (04/30/2011).
Currently, the number of people who lost their jobs to reach 4.9 million by the end of March, rising by 214 thousand compared to the previous quarter. As for those who lose jobs which are from the service sector, agriculture, manufacturing, and the highest is the construction.
This increase was bad news in my family life, especially for households. For as is known, the prices of basic commodities also increased.
Spain itself is forecast to experience growth that is not too large during the year 2011, only approximately 1.3 percent. So the government expects the availability of new job opportunities to increase economic growth in second half of this year. (GoFinance)
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