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According to the latest 'Labour Euro-Index' compiled by Adecco and IESE Business School, unemployment in Spain will reach 19.2% in December 2009 with an increase of 1.2 million new unemployed compared to December 2008.
Total unemployment in Spain is estimated to reach 4.1 million. By the end of the year Spain will have had seven annual quarters with the worst unemployment developments when compared to Germany, France, UK, Italy, Portugal and Poland.
The report also highlights that Spain, Italy, France and Poland will not be able to comply with the objectives of the Lisbon Treaty to reach employment levels of 70% by the beginning of 2010. Employment levels in Spain are estimated to reach only 61%.