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Spain's jobless level hits record 4.75 million | Spain's jobless level hits record 4.75 million |
(about 2 hours later) | |
The number of Spanish jobseekers rose for the eighth month in a row in March to hit a record 4.75 million. | The number of Spanish jobseekers rose for the eighth month in a row in March to hit a record 4.75 million. |
The Labour Ministry said the number of people filing for unemployment benefits rose by 38,769 with the services sector seeing the most jobs lost. | The Labour Ministry said the number of people filing for unemployment benefits rose by 38,769 with the services sector seeing the most jobs lost. |
The jobless rate in Spain stood at 23.6% in February, according to EU figures released on Monday. | The jobless rate in Spain stood at 23.6% in February, according to EU figures released on Monday. |
The situation is even worse for young Spaniards as youth unemployment is running at 50%. | The situation is even worse for young Spaniards as youth unemployment is running at 50%. |
Spain has the highest unemployment rate in the European Union and it is expected to rise further this year. | Spain has the highest unemployment rate in the European Union and it is expected to rise further this year. |
The government hopes that reform to the labour market will help ease the problem. | The government hopes that reform to the labour market will help ease the problem. |
Its measures include cutting back on severance pay and restricting inflation-linked salary increases. | Its measures include cutting back on severance pay and restricting inflation-linked salary increases. |
But those measures have angered unions, who organised a general strike last Thursday. | But those measures have angered unions, who organised a general strike last Thursday. |
Secretary of State for Employment Engracia Hidalgo said in a statement: "We continue to face an unsatisfactory situation of an increase in the number of people registered as unemployed. | Secretary of State for Employment Engracia Hidalgo said in a statement: "We continue to face an unsatisfactory situation of an increase in the number of people registered as unemployed. |
"This is why it is necessary to reiterate the importance of creating confidence and flexibility for companies, as was done with the labour law reform." | "This is why it is necessary to reiterate the importance of creating confidence and flexibility for companies, as was done with the labour law reform." |
'Extreme situation' | 'Extreme situation' |
The unemployment situation is likely to be made worse by deep cuts in government spending. | The unemployment situation is likely to be made worse by deep cuts in government spending. |
On Friday the government said that 27bn euros ($36bn; £22.5bn) would be cut from the 2012 budget. Departmental budgets will be cut by almost 17%. | On Friday the government said that 27bn euros ($36bn; £22.5bn) would be cut from the 2012 budget. Departmental budgets will be cut by almost 17%. |
Deputy Prime Minister Soraya Saenz de Santamaria said on Friday the nation was in an "extreme situation". | Deputy Prime Minister Soraya Saenz de Santamaria said on Friday the nation was in an "extreme situation". |
"This is a moment that demands serious efforts to reduce spending but also structural reforms to cause the economy to grow and create jobs," she said. | "This is a moment that demands serious efforts to reduce spending but also structural reforms to cause the economy to grow and create jobs," she said. |
The budget will be presented to Parliament later on Tuesday. | The budget will be presented to Parliament later on Tuesday. |
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