Spanish unemployment on the rise

Spanish unemployment on the rise

The number of people registered as unemployed in Spain rose by a little over 87,000 in October as many jobs created in the summer tourist season come to an end.

The Labour Ministry said today that the October figure took the total number unemployed to a rounded 4.8 million. October, like September, usually sees unemployment rising as the tourism sector reduces headcount with the onset of winter.

The increase comes amid some hopeful signs over Spain’s economy with a two-year recession coming to an end in the third quarter, albeit with modest quarterly growth of 0.1%.

But Spain’s third-quarter unemployment rate of 26% – the second highest in the 28-country European Union after Greece – shows much more is needed for the economy to regain health.

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