Spending cuts are taking an increasingly heavy toll on Spain?s labour market as the Prime Minister, Mariano Rajoy, wields the axe in an attempt to meet his deficit-reduction targets.
The rate of joblessness in Spain moved above 25 per cent in the third quarter, putting it at its highest since at least 1976, the year after General Franco?s death. That compared with 24.6 per cent in the previous three-month period and comes as unions call for a general strike next month.
The number of people employed in the public sector slumped by 7 per cent in the third quarter compared
Source: http://www.thetimes.co.uk/tto/business/economics/article3581199.ece
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