“Increase in jobless rate is a sign of coming recession”

One of the principal trade unions in the Balearics said yesterday that the 58 percent increase in unemployment in the Balearics was a sure sign that the islands were heading towards recession. Jose Benedicto, of the CC.OO trade union, said that the islands were very sensitive to world economic circles. “We are the first community in Spain to notice when there is an up-turn but we are also the first to be affected when there is a down-turn,” he said yesterday. He said that CC.OO was deeply concerned at the growing jobless rate in the Balearics especially with people under the age of 25. Unemployment rose in the Balearics last month much higher than the national average prompting alarm bells to start sounding.