Friday, January 27, 2012

MALLORCA TODAY - Record unemployment figures in the Balearics

2011 ended with the unemployed figure for the Balearics standing at 146,500 people, or 25.2% of the registered workforce. The total number of unemployed in Spain has gone over the five million mark for the first time ever, representing nearly 23% of the workforce, and the number of households in which everyone of working age is unemployed has risen by a staggering 18.6%.

The unemployment figure in the Balearics is probably worse than it seems, as it is one for those who are registered or who are entitled to benefit (if they can get it). It does not include the large number of self-employed who cannot apply for benefit.

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