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IPFS News Link • Economy - International

Spanish Q1 2010 Unemployment Number Leaked, Surpasses 20%

Unemployment among Spain's youth is reaching epidemic proportions: "the unemployment rate for those under 25 years in the first quarter of 2010 was 40.93% and 18.02% in those over 25 years. In the group of 16-19 years, the rate is 59.79% and 13.1% among the unemployed aged 55 and older." Dealing drugs is probably a more lucrative job than working for the government anyway. No taxes either. More from ABC, translated by Google: The Labour Force Survey also reveals that the number of employed at the end of the first quarter of this year was 18,394,200 people, representing a decrease of 251.7 thousand compared to those who had at the end of 2009 (18,645,900). By sectors, only agriculture is an increase in the number of employed persons (52 600) to a total of 835 200. On the contrary, this group fell by industry (81 100) to 2.5998 million, construction (139 700), to 1.663 million, and services (83 600), up 13.2961 million occupied. If you thought the US labor participation rate was horrible, Spain is a whole new ballgame: