Friday, October 26, 2012

Spain hit by record joblessness

Unemployment rate now above 25 per cent,
with about 800,000 people losing jobs in past 12 months.

One Spaniard in four is now officially out of work as the economic crisis tightens its grip on the country.

The National Statistics Institute said on Friday that 85,000 more people joined the ranks of the unemployed between July and September, raising the total to 5.78m. The figures brought the country's unemployment rate up by around 0.4 percentage points in the third quarter, to 25.02 per cent.

For those under 25 years of age, the unemployment rate edged down marginally to 52 per cent, from 53 per cent in the previous quarter.

The institute said that over the past 12 months some 800,000 people had lost their jobs.

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