Spain's unemployment rate surpasses 17 percent
According to official statistics, Spain's jobless rate reached 17.4%, with slightly more than four million people unemployed. The figures have doubled over the past twelve months, the National Statistics Institute reports. The numbers are an increase over the previous jobless rate of 13.9%, which was revised in the fourth quarter of last year. Spain now has the highest level of unemployment in the European Union. Recently, the Bank of Spain estimated that the unemployment rate in the country could go up to 19.4% by 2010. "It is a terrible fi
Source: Wikinews