March 2, 2012
The number of people claiming unemployment benefit in Spain rose by 112,269 in January, taking the overall figure to 4.7 million.
Spain’s unemployment rate stands at 22.9%, the highest in the 17-nation eurozone.
The Spanish economy posted negative growth in the fourth quarter of last year and is expected to enter recession this quarter.
The new right-leaning Popular Party government has introduced a series of reforms in a desperate attempt to shake up the economy but it acknowledges that unemployment is likely to continue rising throughout this year.
This article was posted: Friday, March 2, 2012 at 6:41 am