Spain jobless total nears five million

The number of people registered as unemployed in Spain is bordering on five million as the country remains mired in recession.

Labour Ministry figures released today showed the registered jobless figure surged by 132,055 in January to 4.98 million.

Spain is struggling to emerge from its second recession in just over three years with its economy battered by the collapse of the once-key real estate sector.

The country’s unemployment rate was at 26% at the end of the fourth quarter, up 1% from the previous three-month period.