Spanish Jobless Claims Rise For Third Month in Row

RIFAN FINANCINDO BERJANGKA – The number of registered job seekers in Spain rose in October for the third month in a row, government data showed Tuesday.

The October rise of 79,154 people was the smallest increase registered during that month since 2010, the Labor Ministry said in a news release. October, which comes shortly after the end of the high-season for tourists, is usually a bad month for job creation in Spain.

On the year, jobless claims were down 284,579, the data showed. Total jobless claims stood at 4.53 million in October, 5.9% lower than a year earlier. Of those, some 2.53 million unemployed workers receive benefits.

Spain’s unemployment rate peaked in the first quarter of last year at just below 27%, and has since dropped to 24.5%. The fourth-largest eurozone economy has now posted four consecutive quarters of economic growth.

Source : MarketWatch