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Spain’s registered jobless total jumps by 128,000 in October for total of 4.8 million
The Labor Ministry says the number of people registered as unemployed in Spain jumped by 128,242 people in October as the country’s recession continues to take its toll.
The ministry said in a statement Monday that a little over 4.83 million were registered as jobless at the end of last month, an increase of 2.7 percent on September.
Spain jobless queue hits 16-year record in October
Video: Spanish recession continues to bite
Spain fell deeper into recession in the third quarter of 2012, new figures published on Tuesday show. The news is likely to pile further pressure on Prime Minister Mariano Rajoy’s government as it seeks to revive the country’s lacklustre economy.
Consumer prices also jumped by 3.5 percent. Spanish GDP has now dropped for the fifth time in succession, falling 0.3% in the third quarter of this year.
It adds to evidence the eurozone’s fourth largest economy is trapped in a ‘stagflationary’ spiral of shrinking growth, high inflation and high unemployment.
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Two points here:
(1) The Telegraph is not all about being anti Spain with it’s reports.
(2) Spanish unemployment shrank in December, although it had been predicted to rise to 26.9% in 2013, but Minister heeds caution.
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