Naharnet

Spain's Jobless Claims up 112,000 in February

Spain's Labor Ministry says the number of people filing for unemployment benefits rose by 112,269 in January, raising the overall figure to a rounded 4.7 million.

Spain's jobless rate stands at a 22.9 percent, the highest in the 17-nation eurozone.

The economy posted negative growth in the fourth quarter of 2011 and is expected to enter recession this quarter.

The new right-leaning Popular Party government has introduced a series of reforms in a desperate bid to shake up the economy but it acknowledges that unemployment is likely to continue rising throughout this year.

The ministry said Friday the total number of people claiming benefits was up by more than 400,000 from February of last year.

Source: Associated Press


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