Spain’s Labor Ministry announced on Tuesday that it had recorded a 0.82-percent climb in the number of job seekers for March.
The increase brings the total number of unemployed in the eurozone’s fourth largest economy to 4.75 million people. Moreover, it also marks the eighth consecutive month during which unemployment has climbed.
The Spanish government is expecting the unemployment rate to reach 24.3 percent and the economy to contract by 1.7 percent by the end of this year.
Battered by the global financial downturn, the Spanish economy collapsed into recession in the second half of 2008, wiping out millions of jobs. A number of analysts have on several occasions said that Spain’s economy is expected to be hit by a new recession in the first two quarters of 2012.
PM/MB/HJL
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