Spain Extends Special Aid Payments To Jobless

MADRID (AP) ⿿ The Spanish government says it will keep paying monthly benefits of up to ⿬450 ($606) to long-term unemployed people until the jobless rate drops below 20 percent.

Deputy Prime Minister Soraya Saenz de Santamaria announced the extension to the policy after a weekly Cabinet meeting Friday, a day after data showed the unemployment rate hit a record 26 percent in the final quarter of 2012. Just under 6 million people were out of work.

Saenz de Santamaria declined to estimate when the rate might drop below 20 percent.

The payments are for unemployed people whose jobless benefits have run out. Excluded are people who live in households with overall incomes that exceed ⿬481 a month per person.

The government said 200,000 people received such payments in 2012.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Opinion

Intel's Next CEO Should Try Harder to Protect Its Flanks Against AMD and Others

Intel's Next CEO Should Try Harder to Protect Its Flanks Against AMD and Others

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

Wednesday Wrap-Up: GE and Facebook

Wednesday Wrap-Up: GE and Facebook

PayPal Strikes Again, Facebook, and AT&T -- 3 Tech Stories You Must Know

PayPal Strikes Again, Facebook, and AT&T -- 3 Tech Stories You Must Know

How to Invest Like Warren Buffett

How to Invest Like Warren Buffett