Skip to comments.Spain jobless rate tops 25 pct
Posted on 10/26/2012 2:23:24 PM PDT by Oldeconomybuyer
The ranks of Spain's unemployed climbed by 85,000 in the third quarter to more than 5.75 million, pushing the jobless rate to a record 25.02 percent, the National Statistics Institute, or INE, said Friday.
Prime Minister Mariano Rajoy's government forecast in July that Spain would end the year with an unemployment rate of 24.6 percent.
The figures released Friday come from the INE's workforce survey, which also shows the number of people with jobs down by 96,900 to 17.3 million.
The INE survey found that the number of Spanish households in which nobody is employed stands at 1.7 million, another record.
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We’re probably at around 25% here in reality. It just isn’t measured in the official statistics.