Spanish unemployment increases
Spanish registered unemployment rose for the fourth month in November as companies struggling to survive the five-year economic slump used new labour rules to let go of workers.
The number of people registering for jobless benefits rose by 74,296 from October to 4.91 million, the labour ministry in Madrid said today.
That compares with an increase of 59,536 in November of last year.
Spain's recession may deepen next year, which the Organisation for Economic Cooperation and Development (OECD) says may push the jobless rate to 27 per cent.
Companies including Amper are using labour rules introduced by the year-old government to fire workers more cheaply, while nationalised lender Bankia group plans 6,000 job cuts as a condition for the nation's European bank bailout.