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Spain's unemployment edges up to 8.3 percent in 4Q

Spain's unemployment edges up to 8.3 percent in 4Q

Spain's unemployment rate was 8.3 percent in the fourth quarter, up from 8.15 percent in the third quarter, the government said Friday.
The National Statistics Institute did not give an explanation for the increase in unemployment, though the indicator traditionally worsens in the fourth quarter as more people enter the work force looking for jobs over the Christmas season.
The government agency said 151,700 people entered the work force in the final three-month period.
No figure was given for jobs created in the fourth quarter, though the institute said 687,600 new jobs were created over the year.
The number of salaried workers in the fourth quarter was 16.46 million, up just over 100,000 from the third quarter, the institute said in a statement. The percentage of temporary contracts fell to 33.52 percent in the fourth quarter from 34.59 percent in the third quarter.
Last year, the government offered companies a package of incentives to convert temporary contracts to indefinite contracts.
Although the pace has been slowing in recent quarters, Spain has been one of Europe's main motors of job creation since 1996, creating more than 600,000 jobs annually.
During the same period, Spain's unemployment rate has fallen from levels of more than 20 percent, though it remains one of the highest in the euro zone.
In November, euro zone unemployment stood at 7.6 percent.


Updated : 2021-04-11 03:33 GMT+08:00