Update 2: Slower Rise in Spain’s Jobless Takes Off Its Labour Market Gloom

Joblessness rose in Spain at the beginning of this year as employers laid off hirees for the Christmas holidays. This rise in unemployment was the first since October but the ministry maintained that the 2.4 percent was the smallest gain in the beginning of a new year since 2007. Spain has reported the highest rate of joblessness than in any other country in the European Union since the labor disaster in Greece six years ago.
Recent economic growth has aided hopeful outlooks that the worst of the problem may be over. In support of this, Citi economist Jose Luis Martinez said: “These figures are, to some extent positive, but continue to show a minimal, almost insignificant, step toward a real recovery in the labor market. We’ve almost certainly touched bottom and are seeing some recovery, but it’s very slow.”
In the services sector, nearly 100,000 people lost their jobs alongside drops in other areas of employment: 8,100 and 3,577 people in agriculture and industry, respectively.
Jobs are in desperate supply for the Spanish population since the economy came out of a two-year recession midway last year. Many are struggling to make ends meet and are working multiple jobs until the job forecast is better.

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