Unemployment in Spain has top 20percent, which means 4.6 million are out of work now, the Spanish government announced on Friday. The figure from the first quarter was 19percent and 4.3million in the previous quarter. It represent the second highest unemployment rate in the European Union, after Latvia, according to the figures by the Eurostat.
This is due to the recession that happen earlier. There were some problems that lead to the increase in unemployment rate, the drop in labour-intensive activity like construction,agriculture and tourism. Another problem found in Spain is that wages are set centrally and most jobs are protected, making it hard to shift skilled workers from one industry to another.
I think the unemploymeny rate will continue to increase unless there is something done to improve the unemployment rate.
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