Spain's unemployment figure hits 17-year high 22.8%January 27, 2012 - 16:58 AMT PanARMENIAN.Net - Spain's unemployment figure passed the five million mark in the last quarter of 2011, official figures show, BBC News reported. The National Statistics Institute said 5.3 million people were out of work at the end of December, up from 4.9 million in the third quarter. The rate rose from 21.5% in the third quarter to 22.8% - the highest rate in nearly 17 years. Spain already has the highest jobless rate in the 17-nation eurozone and is expected to slide back into recession. The 22.8% rate is more than twice the average unemployment rate of the eurozone, which stood at 10.3% in November, according to data released earlier this month. The Spanish figures show more than half of all 16-24 year-olds in the country are jobless - 51.4% compared with 45.8% before. Spain's new ruling Popular Party conservative government has pledged labour reforms to try to imporve the jobs market. On Thursday, January 26 public service employees staged a series of demonstrations across Spain to protest against unemployment and increasing austerity measures. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |