Spanish unemployment: no good news until summer of 2013

MADRID | Analysts at BNP Paribas’s broker Cortal Consors in Spain said in an investor note that their scenarios for the situation of the unemployment levels would not register any improvement until the second half of next year. Occupation is still under a heavy destruction trend in Spain, with a -4.1 percent during the second quarter of 2012.

Unfortunately, data released today by the Spanish institute of statistics backed pessimistic expectations in the City of Madrid. The number of employed persons decreased by 15,900 persons in the second quarter of 2012, standing at 17,417,300. The interannual employment rate stands at -0.09%. And records are only comparable to 1994.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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