Spain's Jobless Surges to Just Short of 5 Million in January

Monday, 04 Feb 2013 10:49 AM

 

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The number of people registered as unemployed in Spain is bordering on 5 million as the country remains mired in recession.

Labor Ministry figures released Monday showed the registered jobless figure surged by 132,055 in January to 4.98 million.

Spain is struggling to emerge from its second recession in just over three years with its economy battered by the collapse of the once-key real estate sector.

The country's unemployment rate was at 26 percent at the end of the fourth quarter, up 1 percent from the previous three-month period.

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