Spain’s jobless rise by 87K in October, as summer tourist season ends
(Reuters) – The number of registered jobless in Spain rose in October as the effect of the summer tourist season started to wear off, pouring cold water on the government’s hopes that tentative signs of economic recovery would translate into jobs.
Spain’s number of registered jobless rose by 87,028 people in October, leaving 4.81 million people out of work, data from the Labour Ministry showed on Tuesday. It did not give a percentage figure.
The government has been quick to announce the end of a two-year recession in the third quarter, though economists have warned that the recovery is likely to be muted as Spain continues to fight fiscal imbalances and massive unemployment.