Fin24

Spanish unemployment nears 25%

2012-07-27 10:12

Madrid - Spain's unemployment rate rose in the second quarter to 24.63% without benefitting from the usual spike from tourism, the government said on Friday.

The increase was smaller than in the first quarter, to nearly 5.7 million people out of work.

Between April and June, 53 500 people lost their jobs, compared with 365 900 in the first quarter, the national statistics office said.

On Monday the Bank of Spain will publish its provisional estimate of economic output in the second quarter, expected to show a contraction of 0.4%, compared with a 0.3% decrease in the first three months.