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WTF !! Spanish Unemployment Soars By Most Since Lehman, Hits "Astronomical" 23.3% !!

 
Anonymous Coward
User ID: 8163470
Mexico
01/14/2012 08:02 PM
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WTF !! Spanish Unemployment Soars By Most Since Lehman, Hits "Astronomical" 23.3% !!
[link to www.zerohedge.com]

For anyone convinced that yesterday's S&P two notch downgrade of Spain to A is the last one for a while, we have some bad news: in Q4 Spanish unemployment soared by the most since the Lehman collapse, hitting what new PM Mariano Rajoy called an "astronomical" 5.4 million. This compares to 4.978 million people unemployed at the end of Q3 2011. Since the official number is not yet public and will be released on January 27 we will take his word for it. In which case it becomes clear that in Q4 the Spanish economy experienced a Lehman-like collapse, losing more than 400K people, or the most since the bankruptcy of Lehman brothers. In percentage terms this means that Spanish unemployment rose by a ridiculous 2%, or from 21.5% to 23.3%, in one quarter!
Anonymous Coward
User ID: 6042864
Australia
01/14/2012 08:11 PM
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Re: WTF !! Spanish Unemployment Soars By Most Since Lehman, Hits "Astronomical" 23.3% !!
The Spanish king has swallowed up all the money.. Fuck all Royalty.

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