Ranks of jobless in Spain edge up toward 5 million
The number of people officially registered as unemployed in Spain has edged up toward 5 million as the country’s recession shows few signs of abating and its struggling banks await crucial bailout cash. Spain’s Labor Ministry said Tuesday that unemployment rose a monthly 74,296 in November, or 1.5 percent, to a record 4.9 million. The country’s unemployment rate is released separately and quarterly. It stood at 25 percent at the end of the third quarter, with the youth unemployment rate standing well above 50 percent.