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BREAKING NEWS

Jobs growth yet to join the recovery in Spain

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Jobs growth yet to join the recovery in Spain

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Spain’s economy may be showing signs of recovery but there was no corresponding improvement in unemployment in Q1 say the latest figures from the National Statistics Institute.

Unemployment rose slightly, to 23.78%. Only Greece is worse.

Many analysts had expected the jobs market to be more buoyant at this stage of Spain’s economic recovery, which has been boosted by falling oil prices and a weaker euro.

Some figures, however, point in another direction. On a yearly basis, employment growth in the first quarter was sharper than expected, and the government believes one million jobs can be created this year.