Question: What was Spain's unemployment rate in May of 2009?
About the article "Spain", section "Property boom and bust".

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Spain's Martinsa-Fadesa, a construction company, has declared bankruptcy as it failed to refinance a debt of €5.1 billion.
The two banks with most exposure to Martinsa-Fadesa are reportedly Caja Madrid, at €900m, and Banco Popular Español, at €400m.
Spain's finance minister Pedro Solbes has said it would not bail out the company.
In the second quarter in Spain house prices reportedly fell 20 percent.
In Castilla-La Mancha some 69 percent of all houses built over the past three years are still unsold.
Deutsche Bank said it expects a 35 percent fall in real house prices by 2011.
Spain's premier, Jose Luis Zapatero, blamed the European Central Bank for making matters worse by raising interest rates.
More than 98 percent of home loans in Spain are priced off floating rates linked to Euribor, which has risen 145 basis points since August.
Housing accounts for over 10 percent of Spain's economy.
The Bank of Spain is concerned about the health of smaller regional lenders with heavy exposure to the mortgage market.
Although Spain has avoided recession in the first half of 2008, unemployment in the country has risen by 425,000 over the past year, reaching 9.9 percent.
Car sales in Spain fell 31 percent in May.
Spain's factory output slumped 5.5 percent in May.
The country's business lobby Circulo de Empresarios warned of a "high probability" that Spain's economy would fall into recession in the second half of 2008 due to the housing collapse.
Spain had a 7.9 percent decline in retail sales in June compared to the previous year, the largest drop since Spain began registering the results and the seventh consecutive monthly decline.
This included a 17.9 percent drop in retail sales of household goods.
June food sales in Spain fell by 6.8 percent.
Morgan Stanley issued a major alert on the health of Spanish banks and the Spanish economy in a report, saying, "A momentous economic slowdown is now under way.
We believe the deterioration in Spain is just in the beginning stages.
The bulk of the pain will be suffered in 2009."
Morgan Stanley also warned there was 40 percent chance of a 0.5 percent contraction of the Spanish economy in 2009, with a risk of an even more extreme 1.4 percent contraction in 2009.
According to Spanish automobile manufacturers' association ANFAC new car sales fell 27.5 percent in July from the same time in 2007, the third consecutive monthly drop of over 20 percent.
Spain's government forecast the unemployment rate would rise to 10.4 percent in 2008 and to 12.5 percent in 2009.
Spain's second largest bank BBVA predicted the unemployment rate could reach 14 percent in 2009.
Spain's Purchasing Managers Index for the manufacturing sector in July fell to a new low suggesting a deep recession.
In the second quarter Spain's economy grew by 0.1 percent, the lowest gain in 15 years.
As of December 2009, Spain's government forecast the unemployment rate would rise to 20 percent in 2009.
It's predicted a 25% rate, due to the way the tally is carried out by the government.
According to Spain's Finance Minister, the "Spain faces its deepest recession in half a century". 
"Unemployment rate, 2006" 
The International Labour Organization (ILO) predicted that at least 20 million jobs will have been lost by the end of 2009 due to the crisis — mostly in "construction, real estate, financial services, and the auto sector" — bringing world unemployment above 200 million for the first time.
The number of unemployed people worldwide could increase by more than 50 million in 2009 as the global recession intensifies, the ILO has forecast.
In December 2007, the U.S. unemployment rate was 4.9%.
By October 2009, the unemployment rate had risen to 10.1%.
A broader measure of unemployment (taking into account marginally attached workers, those employed part-time for economic reasons, and some (but not all) discouraged workers) was 16.3%.
In July 2009, fewer jobs were lost than expected, dipping the unemployment rate from 9.5% to 9.4%.
Even fewer jobs were lost in August, 216,000, recorded as the lowest number of jobs since September 2008, but the unemployment rate rose to 9.7%.
In October 2009, news reports announced that some employers who cut jobs due to the recession are beginning to hire them back.
More recently, economists announced in January 2010 that economic growth in the U.S. resumed in the fourth quarter of 2009, and some have predicted that limited job growth will begin in the spring of 2010.
The average numbers for European Union nations are similar to the US ones.
Some European countries have been hit by recession very hard, for instance Spain's unemployment rate reached 18.7% (37% for youths) in May 2009 — the highest in the eurozone.
In the UK, youths bore the brunt of unemployment during the recession.
The rise of advanced economies in Brazil, India, and China increased the total global labor pool dramatically.
Recent improvements in communication and education in these countries has allowed workers in these countries to compete more closely with workers in traditionally strong economies, such as the United States.
This huge surge in labor supply has provided downward pressure on wages and contributed to unemployment. 
In 2006, the unemployment rate was 11.7%.
By November 2009, it stood at 12% and had increased to 15.7% by October 2010.
Currently the unemployment rate is at 13.7%The U.S. state with the highest unemployment in October 2007 was Michigan, at 7.7%,and the U.S. average was 4.4%. 
After having completed substantial improvements over the second half of the 1990s and during the 2000s, which put a few regions on the brink of full employment, Spain suffered a severe setback in October 2008, when it saw its unemployment rate surging to 1996 levels.
During the period October 2007 – October 2008 Spain had its unemployment rate climb 36%, exceeding by far the unemployment surge of past economic crises like 1993.
In particular, during this particular month of October 2008, Spain suffered its worst unemployment rise ever recorded and, the country has suffered Europe's biggest unemployment crisis during the 2008 crisis.
Spain's unemployment rate hit 17.4% at the end of March 2009, with the jobless total now having doubled over the past 12 months, when two million people lost their jobs.
In this same month, Spain for the first time in her history had over 4,000,000 people unemployed, an especially shocking figure even for a country which had become used to grim unemployment data.
By July 2009, it had shed 1.2 million jobs in one year and was to have the same number of jobless as France and Italy combined.
By March 2012, Spain's unemployment rate reached 24.4%, twice the euro-zone average.
Spain has a two-tiered work force, in which privileged labor gets wage increases as unprivileged labor is thrown out of work.
The privileged two-thirds have "armour-clad permanent contracts" that shield them from the ravages of recession while the non-privileged, generally temporary workers, are dismissed.
Rigid labor laws prevent wage reductions, encouraging dismissals instead.
Dismissals are costly and companies are hesitant to hire new workers prompting many to seek jobs abroad.
During the last decade, Spain's unit labor cost rose 40% relative to German unit labor cost changes making Spanish labor uncompetitive at the current wage scale.
Unions organized a general strike to protest proposals to weaken union power, enable cuts in wages, and lower firing costs.
By the end of 2012, Spain's unit labor costs improved with respect to the other Eurozone members.
It narrowed the gap with Germany by 5.5 percent and 4.6 percent with respect to France.
Spain's policy of "internal devaluation" cut public sector salaries by 5% with an additional 7.1% cut consisting of a suspension of the "14 month bonus."
Private sector wages have changed little and Spain continues to discourage private investment.
Spain, as in other southern European nations, relies heavily on the inter-generational family structure for a significant portion of the social safety net.
Employment expectations should be adjusted for this cultural ethos.
The unemployment rate for the "principal breadwinner" is 12.4% less than the 25% overall rate (June 2012.)
Employment is also found in the underground economy, which is estimated to be as large as 20% of the economy during the boom years.