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The Boston Globe

Business

Ranks of jobless in Spain edge up toward 5 million

MADRID — The number of people registered as unemployed in Spain has edged up toward 5 million as a recession shows few signs of abating and struggling banks await bailout cash.

The Labor Ministry said unemployment rose a monthly 74,296 in November, or 1.5 percent, to a record 4.9 million. The unemployment rate is released separately, and quarterly. It stood at 25 percent at the end of the third quarter; youth unemployment was above 50 percent.

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