Stark Warning On Canary Unemployment
A shocking new report from the Bank of Spain warns that unemployment in the Canary Islands could reach a staggering 30 per cent this year.
The latest report, described by the bank as “alarming”, goes on to say that despite a slowdown in the rate of job losses, unemployment will continue to rise throughout 2010, contrary to previous forecasts.
A bank spokesman said 2009 had clearly been worse than 2008 and that 2010 would see little if any improvement, with unemployment continuing to rise across the country, reaching between 4.5 and 5 million.