Spain’s Unemployment Now Approaching Six Million
January 11th, 2013
According to the latest estimates from Eurostat, the EU statistics agency, the unemployment rate reached 26.6% of the Spanish workforce in November.
This figure means that the number of unemployed in Spain is now around six million people, if in fact this number has not already been exceeded.
The National Statistics Institute is the body responsible for compiling the statistics on unemployment in Spain for Eurostat, whose figures are the only valid ones before the European Commission. Although the Labour Force Survey is quarterly, the Institute prepares monthly estimates, as in this case.
According to the National Statistics Institute’s last Labour Force Survey, September closed with unemployment at 25.02%, which was four-tenths and 85,000 more people unemployed than in the second quarter. The Eurostat data supposes an increase of 1.6% in the unemployment rate over September, when it reached 5,778,100 unemployed.
Unemployment rose to 11.8% in the eurozone, which is one-tenth more than in October and 1.2% higher than the previous year.
In addition, the unemployment rate reached 10.7% in the European Union as a whole, in line with the data for the previous month, but seven points more than in the same month of 2011.
Eurostat estimates that 26 million people were unemployed in November in the European Union, of which 18.8 million were in the eurozone, representing a net monthly increase in unemployment of 154,000 in the European Union and 113,000 in the eurozone.
El Mundo reported that the lowest unemployment rates were recorded in Austria (4.5%), Luxembourg (5.1%), Germany (5.4%) and the Netherlands (5.6%), while the highest were those recorded for Spain (26.6%) and Greece (26% in September 2012).
The male unemployment rate rose one-tenth in the eurozone (to 11.7%) and in the European Union (to 10.8%) compared with October. Female unemployment remained stable in both regions at 11.8% and 10.7%, respectively.
The unemployment rate among those under 25 years old rose two-tenths in the eurozone, to 24.4%, while in the European Union as a whole it reached 23.7%, two points more than the previous month.
Spain recorded a rate of 56.5% unemployment among young people, compared to 55.8% in October; behind only the 57.6% recorded in Greece (although the data for Greece is for the month of September).
For male unemployment, Spain again registered the worst data in the whole of Europe, with a rate of 26.2%, three percentage points more than in October, while the rate among the Spanish rose to 27%, four tenths more than the previous month, and only better than the rate of 30.1% affecting the Greeks.
- Eurozone Unemployment at 10.3% in November
- Eurozone Unemployment Figures Marks New Record
- Spain Leads Eurozone Unemployment