Spain PM Zapatero Proposes Series Of Labor-Market Reforms
05 December 2009 @ 17:18
MADRID (Dow Jones)--Spanish Prime Minister Jose Luis Rodriguez Wednesday proposed a series of labor-market reforms as government policy shifts gear to start tackling some of the root causes of the country's deep economic crisis.
"Now that there are signs of recovery, the government will focus on encouraging it by accelerating the necessary reforms," Zapatero said in Spanish parliament.
Zapatero proposed changes to Spain's rigid labor-market regulations include more flexibility for collective wage-bargaining practices, revisions to hiring incentive schemes and measures to reduce the widespread use of temporary job contracts.
Earlier Wednesday, Spain's labor ministry said November jobless claims were up 29% on the year to just under 4 million. Eurostat Tuesday said Spain had a 19.3% unemployment rate in October, the second highest in the EU behind Latvia.
Source: Wall Street Journal
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