The Spanish Ministry of Labor recently announced that the number of unemployed in Spain in November decreased by 24,750 to 480,000, representing a decline of 0.05%. The Ministry stated that this is the first time since the collection of this data began that the unemployment rate has decreased in November.
Eurostat reported on November 29 that the unemployment rate in the Eurozone fell to 12.1%, but there are significant differences in unemployment rates among member states.
In some countries severely impacted by the Eurozone financial crisis and banking crisis, youth unemployment rates are particularly high. Eurostat data shows that Spain's youth unemployment rate in November rose to 56.8%, up from 57.4%.
