MADRID—Spain's Labor ministry said Tuesday jobless claims soared in September due to the end of the country's labor-intensive holiday season, a sign that Spain's overall unemployment, already the highest in the developed world, may still climb further later this year.
Claims rose by 95,817, or 2.3% in September from August. On the year, claims increased by 5.2%. Jobless claimants in September numbered 4.23 million.
Mari Luz Rodriguez, deputy Labor minister, said the end of the holiday season led to a jump in claims in recent weeks, with over 10,000 new claims registered countrywide on some days.
The labor ministry didn't provide an unemployment figure, but according to data from the European Union's Eurostat agency, Spanish unemployment stood at 21.2% in July, more than twice the 10% rate for the 17 countries that share the euro.
Spain's three-year long property bust, which started in 2008, has sent unemployment soaring, and subdued growth so far this year has failed to add a significant number of new jobs to the economy.
property bust, unemployment figure, labor ministry, labor minister, eurostat, jobless claims, claimants, new jobs, holiday season, european union, madrid, spain, economy
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