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Financial News: Spain Jobless Rate Rises In Q1

Spain Jobless Rate Rises In Q1

04/28/2020 - 07:48:00 (RTTNews)

(RTTNews) - Spain's unemployment rate increased in the first quarter due to the lockdown imposed to curb the spread of coronavirus, data from the statistical office INE showed Tuesday.

The jobless rate rose to 14.41 percent in the first quarter from 13.78 percent in the fourth quarter. Economists had expected unemployment to rise to 15.6 percent.

In the same period last year, the jobless rate was 14.70 percent.

The number of unemployed persons increased by 121,000 to 3.313 million.

The number of employed persons decreased by 285,600 from the previous quarter to 19.68 million in the first quarter.

Job creation in services decreased 275,900 and by 9,100 in agriculture, and by 6,200 in construction. Meanwhile, employment increased by 5,600 in industry.

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