The rate of unemployment grew fastest in the Balearics.

The rate of unemployment grew fastest in the Balearics. | REUTERS

Humphrey Carter19/02/2014 00:00
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In 2007, the Balearics have the lowest poverty rate in Spain, by 2011, the region had one of the fifth highest, according to the latest reports.

Palma.—The Bulletin reported yesterday that scores of people were being forced to live in caves and shacks and trying to survive on emergency hand outs from the social services of 500 euros per month, but the latest data paints an ever more alarming picture.
Between 2007 and 2011, the poverty rate in the Balearics trebled, rising by 287.7 percent, according to the latest statistics supplied by the national Foundation of Savings Banks.
In fact, the Balearics have posted the sharpest growth in the poverty rate which takes into account the poverty gap and the level of long term unemployed.