Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain unemployment up : Minister Deluded

Source: Reuters - Wed 2th Oct 2013
Spain unemployment up : Minister Deluded

The number of registered jobless in Spain rose in September for the first time in 7months as the service sector laid off workers at the end of a busy tourist season, data showed.

The number of people out of work increased 0.5% from August, or by 25,572 people, to 4.7 million, Wednesday's Labour Ministry data showed.

Almost 52,000 job losses came in the service sector, while the number of registered unemployed fell in construction, agriculture and industry.

"These figures are better than I expected. Even so, this continues to be case of consolidation rather than a sustainable improvement (in the labour market)," said Jose Luis Martinez, economist at Citi in Madrid.

The Ministry's monthly data uses a different methodology to the National Statistics Institute's quarterly survey. The latter, considered a better guide to the total number of people out of work, showed unemployment at 26.3% in Q2.

The number of workers registered as contributors to the social security system fell 0.1% in September from a month earlier, or by 22,242 people, to 16.3 million.

That compares with 19.2 million contributing workers at the beginning of 2008, when a burst property bubble led to mass layoffs in the construction industry, once a cornerstone of Spain's economy.

However, this may be an opportune moment to remind Minister for the Economy, Luis de Guindos, of his comments made in August that the fall in unemployment briefly observed this summer "was not seasonal".

All together now ...

Recommended Reading

Spain's fall in unemployment "Not Seasonal" : Minister

Comment on this Story

 
The word INCOMPETENT doesn't even begin to describe Luis de Guindos. Why does he still have a job in Government?
David - Wed, 2nd Oct 2013

Related Partners

Recommended Items

Related Articles

Related Blogs

 
Use the hair extensions pretty curling styling spray to evenly spray on the hair wigs part that wants to highlight the hair extensions uk curl, then use the curling iron to start at the horizontal line behind the ear, and the human hair extensions uk single layer is rolled, and the handsome yet playful hairstyle is born.