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Tuesday, September 4, 2012

Spanish jobless queue grows to 4.63 million people in August

Spain’s jobless queue grew to 4.63 million people in August, the government said Tuesday, for an economy suffering nearly 25-percent unemployment.

Snapping a run of four monthly declines, the number of job seekers in August climbed by 38,179, or 0.83 percent, from July, the Labour Ministry of Spain said in a statement.

The ministry’s monthly tally is based on the number of people registering as unemployed which means that the real figure can be much more the official figures.
A broader, quarterly household survey by the National Statistics Institute provides the official unemployment rate, which hit 24.63 percent in the second quarter of 2012, the highest in the industrialised world. 

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