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 | Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. |