Business National News

Worst ever month for unemployment


MARCH saw a record rise in unemployment in Spain, increasing by just over 300,000 to 3,548,312 according to data released today (2 April) by the Ministry of Social Security. The “true” out of work figure may be higher than this as the actual amount of registered jobs fell by 830,000 although less than half of these actually signed on as unemployed for whatever reason. As almost all lay-offs are due to the coronavirus crisis and with the lockdown having starting in mid-March, it is expected that many will register in April, pushing the already worrying figures up higher. Unemployment now stands at April 2017 levels after a steady but gradual recovery from the financial crisis of a decade or so ago. By sector only industry connected with health services saw a rise in employees while the worst hit were the construction (-17%) and hospitality areas (-14%).

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