Spain jobless rate creeps back up

Spain's jobless rate has crept back up as temporary summer hires end but the figure shows a stronger economy than a year ago.

Spain's jobless queue has lengthened slightly in August as the summer hiring boom tails off, but the indicator is stronger than a year ago, government figures show.

The number of people in Spain registered as unemployed crept up by about 8,000 to 4.43 million in August compared with 4.42 in July, the figures from the employment ministry showed on Tuesday.

August usually sees a rise in registered unemployed as temporary summer hires end.

But in a sign of economic strengthening, the number of registered unemployed fell by more than 270,000 last month compared with August 2013, the ministry said.

The registered unemployed list is a different measure from the benchmark quarterly unemployment rate published by the national statistics institute.

The institute recorded 5.5 million unemployed in Spain in June, yielding an unemployment rate of 24.47 per cent.

That was lower than the previous quarter but still one of the highest rates in the developed world, second only to Greece in the eurozone.

The high figure reflects the lingering impact of the bursting in 2008 of a building boom, which sparked five years of stop-start recession in the eurozone's fourth-biggest economy.

Spain emerged timidly from recession in mid-2013 and in the second quarter of this year posted its strongest quarterly growth since 2007, expanding by 0.6 per cent.


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