Spanish Jobless Claims Rise in September Rate Drops to 26.3 Percent

The number of registered jobless in Spain has risen for the first time in seven months as the tourist sector laid off workers after the summer season.

Unemployment in September rose by 0.5%, or 25,572, to 4.7 million, with the service sector shedding 52,000 jobs, according to Labour Ministry data.

However, the jobless level in industry and construction continued to fall.

Prime Minister Mariano Rajoy hailed the figures as the “the best jobless data for September in many years”.

Spain has been in recession for most of the past four years, but the government has forecast that the economy will grow this year.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza