Friday, April 27, 2012

Austerity = more unemployment in Spain



More than five million people were unemployed in Spain last year. The country's latest unemployment figures were to be released on Friday. The ratings agency Standard & Poor's announced on Thursday that it had downgraded the country's credit rating. With 38,769 people having lost their jobs in February, and the new rating indicating an unlikely loan repayment for the country, trade unions are gravely concerned about an increase in unemployment. Al Jazeera's Sonia Gallego reports from Madrid.

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