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World

Spain's jobless hits record 5 million in February

The Philippine Star
March 4, 2013 | 3:56pm

 

MADRID (AP) — Spain now has a record five million people registered as unemployed as the country remains stuck in recession.

The Labor Ministry said Monday that the number of people on the unemployment list in February jumped by 59,444 compared with January, making for a total of 5.04 million.

Spain is battling to emerge from its second recession in just over three years with its economy still reeling from the collapse of the once-booming real estate sector.

The country's unemployment rate was at 26 percent at the end of the fourth quarter.

BATTLING

BOOMING

COUNTRY

LABOR MINISTRY

MILLION

PEOPLE

RECESSION

SPAIN

UNEMPLOYMENT
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