Unemployment reaches new record high for 2012 year end

Unemployment figures in Spain reached a new record high of 5,965,400 at the close of 2012, equating to 26.02% of the labour force out of work.

According to the latest data published today by the Natonal Institute of Statistics (INE), the number of people unemployed rose by 291,700 (13.12%).

In the last quarter of 2012 alone, employment dropped by 363,300 (2.1%).

The number of people in employment dropped by 176,000 between October and December, and was especially noticeable amongst those under 25, and by 158,700 compared with the same period in 2011.

The number of men out of work increased by 11.77% during the course of 2012 and 2.29% in the last quarter. Women fared even worse, with the number out of work going up by 14.69% across the year and by 4.34% in the last quarter.

The number of foreign workers out of work actually dropped by 4,000 across the year, although it increased by 39,400 in the last quarter to reach a total of 1,221,800 (36.53%).

The service sector has been the worst hit over the past 12 months, with 1,737,300 people losing their jobs.

In the construction sector 387,900 people lost their jobs, 64,800 fewer than in 2011.

Region by region, unemployment went up in 15 autonomous communities, headed up by Andalusia, where 194,100 more people joined the dole queue last year, and Catalunya (109,700), and only fell in the Balearic Islands (12,500) and in La Rioja (1,200).