Unemployment in Spain Reached 14.4%

World | April 28, 2020, Tuesday // 14:38
Bulgaria: Unemployment in Spain Reached 14.4% www.pixabay.com

Spain's unemployment rate rose to 14.4% in the first quarter of 2020, the National Statistical Institute INE reported today, Reuters reported.

In the previous quarter, unemployment was 13.8 percent - the lowest since the third quarter of 2008, but still the highest for the euro area countries after Greece.

Spain, one of the most affected by the coronavirus countries, imposed strict national anti-epidemiological measures on March 14.

The number of unemployed increased by 121,000 to 3.31 million at the end of March, data show.

The current numbers may be higher.

Unemployment figures do not include the 3.9 million workers the government says have been suspended.

The left-wing Spanish government has facilitated temporary layoffs, with companies with financial difficulties able to freeze employment contracts while prohibiting permanent layoffs during a pandemic in order to cushion the blow to the economy by the coronavirus.

The IMF forecasts that unemployment in the country will reach 20.8% this year, while the central bank estimates that the increase will be in the range of 18.3-21.7% depending on the duration of restrictive measures.

Unemployment in Spain began to rise in 2008, and then started to fall gradually after a peak of 27.2% in early 2013.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

World » Be a reporter: Write and send your article
Tags: Spain, unemployment, rate, IMF, INE
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria