The latest unemployment figures from Spain must send a shock through the powers that be in most major economies.
The latest numbers show that unemployment is up again in Spain. It has now breached 17%. Thats right, 17%. The BBC reports on it here.
To be fair, Spain has a seasonal economy because of the huge numbers [...]
Despite the credit crunch or crisis – depending upon your lexicon – politicians around the world have been clinging to anything positive and trying to avoid the word “recession” in any form.
Those brave souls that do use the word recession are playing it down in the hope that it will only last a few weeks. [...]