80,000 Spaniards join jobless line in October
George Mills · 4 Nov 2014, 09:20
Published: 04 Nov 2014 09:20 GMT+01:00
- Spain grows by 0.5 percent in third quarter (30 Oct 14)
- Going down: jobless rate dips below 24 percent (23 Oct 14)
- 'Poor' Spain sees 24% surge in millionaires (14 Oct 14)
A total of 79,154 people joined the unemployment line in Spain bringing the total number of people registered as looking for work to 4,526,804 according to Spain's employment ministry.
When seasonally adjusted, however, the number of people seeking work in October was down 19,393, the biggest October drop in 16 years, the ministry said in a statement. The average October increase in the last six years has been 118,000.
In addition, some 174,534 left Spain's unemployment queues in the first ten months of the year, the largest fall since 1998.
October also saw the signing of 1,702,152 new contracts, or 7.6 percent more than the same month a year ago. However, only 8.7 percent of these contracts were for ongoing positions, with rest being temporary employment.
The figures come in the context of continued growth in Spain with preliminary estimates showing Spain's economy grow 0.5 percent in the third quarter of 2014, as the country claws its way out of a long economic crisis.
Spain's current unemployment rate remains at 23.67 percent, one of the highest in the industrialized world. This figure — different from the monthly figures provided by Spain's Labour Ministry — is based on a quarterly survey of 65,000 households across the country, or the EPA.
The EPA is considered the clearest picture of unemployment in the country as it also captures people who are looking for work, but are not registered at the country's employment offices.
A recent report by Spanish charity Caritas showed one in four Spaniards are living in poverty.