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Union leader estimates Spanish unemployment to reach 5 million

Tue 26th Apr 2011

The general secretary of the Workers'' Commissions (CCOO), Ignacio Fernandez Toxo,has spoken of how he estimates that the number of unemployed in Spain will stand at five million as soon as the latest figures are released at the end of this quarter.

The union leader released statements to the Spanish media, giving predictions that unemployment rate will increase to be 21% of the total workforce of the country.

At the end of 2010 Spain had an unemployment rate of 20.3%, the highest since the second quarter of 1997, when it stood at 20.72%, and double the EU average.

According to the Labour Force Survey on Jan 28, the number of unemployed in Spain stood at 4.6 million unemployed at the end of 2010.

With regards to youth unemployment, the situation in Spain is even more problematic, with almost 43% unemployment in the 16 t0 25 year old age group.

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