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Spanish unemployment gets off to worse start in 2015 than 2014

Source: El Pais - Thu 5th Feb 2015
Spanish unemployment gets off to worse start in 2015 than 2014

Registered unemployment in Spain rose last month, but it was the smallest increase for a January since 2007, according the Ministry of Labour.

There were 77,980 new jobless claims last month, bringing the total unemployment figure to 4,525,691.

In the last 7 years, January jobless claim figures have risen by an average of 144,000 people.

On a seasonally adjusted basis, January claims grew by 42,723.

However, the economy shed 199,902 jobs last month, a greater loss than in January 2014, bringing Social Security affiliations down to 16,575,312.

The labour market typically starts the year with a surge in job cuts following the end of the Christmas season.

Losses were seen across all sectors, including hospitality, construction and manufacturing.

Only 3Spanish regions registered a drop in unemployment: Extremadura, the Canary Islands and the Balearic Islands. Elsewhere jobless claims rose, especially in Andalusia and Valencia regions.

But the ministry also noted that 2014 had been the first year of job creation since the crisis began, as Spain added 434,000 jobs to the economy, according to the National Statistics Institute (INE).

The jobless rate in December 2014 stood at 23.7%.

Recommended Reading :

* Jan 1st : Have a coffee and kiss goodbye to the Spanish bar

* Spain's Gov't : 23 reasons to be cheerful

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