European Economic News

Spain Jobless Rate Slightly Rises First Time In A Year

Spain's unemployment rate in the first quarter increased for the first time in a year, albeit modestly, preliminary figures from the statistical office INE showed Thursday.

The jobless rate rose to 23.78 percent from 23.70 percent in the fourth quarter of 2014. Economists had expected the figure to remain unchanged.

The latest increase was the first since the March quarter of 2014, when the rate climbed to 25.93 percent from 25.73 percent in the previous quarter.

The number of unemployed fell by 13,100 persons from the fourth quarter to 5.44 million. From a year ago, the figure dropped by 488,700 persons.

Meanwhile, the number of employed decreased by 114,300 persons from the previous three months, but grew by 504,200 from the same period last year.

In the first quarter, headcount increased in construction and industrial sectors, while it decline in services and agriculture.

Overall labor force decreased by 114,300 people from the fourth quarter to 17.45 million.

by RTTNews Staff Writer

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