Spain raises jobless rate forecast 2011

Spain raises jobless rate forecast 2011 : Spain, which has the highest unemployment rate among industrialised countries, Wednesday raised its forecast for the 2011 rate to 19.8 percent from 19.3 percent.

The rate will ease to 18.5 percent in 2012, 17.3 percent in 2013 and 16 percent in 2014, Finance Minister Elena Salgado told a news conference.

The labour ministry said Monday that the number of Spaniards out of work rose for a third consecutive month in March, up 0.8 percent from February to 4.33 million for the highest level since records began in 1996.

The National Statistics Institute's said the unemployment rate for for the three months to December 2010 was 20.33 percent, the highest level in the Organisation for Economic Cooperation and Development.

Spain's booming construction industry drew millions of unskilled immigrant workers and generated high levels of economic growth in the decade to 2008.

But the collapse of the property bubble, compounded by the global financial crisis, left many people out of work, especially immigrants and youths.

Salgado also cut the country's 2012 growth forecast to 2.3 percent from 2.5 percent but maintained the estimate that the public deficit will drop to 4.4 percent of output that year from 6.0 percent in 2011.

For this year, the government left unchanged its forecast for growth of 1.3 percent.

Related Post:

job

• Job Summary tata Consultancy Services Walkins on 22 may 2011 at Mumbai
• new Debswana Vacancies 2011
• www.skgbank.co.in Recruitment of Officer Scale and Office Assistant in Samastipur Kshetriya Gramin Bank 2011
• samastipur kshetriya gramin bank qualification - Gramin Bank Recruitment 2011
• job vacancies for diploma graduates 2011
• india job bank recruitment april 2011
• new Directgov Job Recruitment 2011
• Kenya Police Service Recruitment 2011
• Recruitment of Lecturers 2011
• Railway Job openings 2011 in Chennai Railways
• State Lectureship Eligible Test 2011
• State Lectureship Eligible Test 2011 SLET 2011 Recruitment of Lecturers 2011
• Eligibility criteria for Southern Railway Recruitment 2011
• Application form for Southern Railway Recruitment 2011
• APGENCO recruitment for Sub-Engineer
• WBCHSE Physics Syllabus 2011
• Clerk recruitment in corporation bank for 2011