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Thursday, August 18, 2005

Do Canary Islands unemployment statistics reveal sub-economy trend?

The number of registered unemployed in the Canary Islands was down by 4,700 in the second quarter of this year. The total number of jobless stands at 115,800 and the rate of unemployment among the active population is running at 12.38%, according to official statistics.

But while the politicians interpreted the figures optimistically, trades union leaders viewed the scenario in a more gloomy light. A spokesman for CC.OO said the highly seasonal nature of the labour market in this region makes for a situation in which jobs are created with the same ease with which they are destroyed and warned that the situation is having negative repercussions on the fragile economy of the islands.

Do unemployment statistics reveal sub-economy trend?

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