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Wednesday, July 26, 2006
Canary Islands one of the lowest regions for Unemployment benefits
Tenerife News reports that "Unemployment benefits in the Canary Islands are among the lowest in Spain. Recently released statistics show that in this region the payout is €862 (£589) a month. The benefit rate in most cases is way above the official minimum wage which currently stands at €541 (£370) a month."
What the report does not say, of course, is that the unemployment benefit figure is an average for the region. Unemployment benefit is paid out - entitlement depending on the number of years of contract worked - as a percentage of the salary on one's last job contract. Therefore, individual benefits can never be more and, are always less, than what someone was earning while in work.
The fact that unemployment rates are low in this region, on average, does mean that salary rates in the islands must also be below the national average.
Pays to work?
