The number of people out of work in Spain rose slightly in the third quarter. There was a trend of increasing unemployment among building workers due to a slowdown in Spain’s decade long housing boom, according to the figures from the National Statistics Institute.
At 8.03%, the total is up from the previous quarter’s 7.95%, but still at a historically low level. At the start of last year it was at 9.07% of the working population.
Employment Minister Jesus Caldera explained: “Unemployment is up for a reason – because the working population has increased. That is the number of people available for work being higher than in previous quarters.”
In recent years Spain has created over 600,000 jobs annually but economists said they expect the unemployment rate to remain flat or even go up slightly in the near future as the government is predicting a slow down in economic growth.