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Where Is The Economic Improvement In Spain – Unemployment rate up at 25.9 percent in Q1

Spain’s unemployment rate edged higher in the first quarter, data showed on Tuesday, as a slow economic recovery failed to offset a traditionally bad three months for job creation in the tourism-dependent country. Capture d’écran 2014-04-29 à 07.40.27

The rate rose to 25.9 percent, according to the National Statistics Institute, up from a revised 25.7 percent in the previous quarter.

Spain’s economy is just starting to pick up again after being in a slump since 2008.

“All the recent data has been pointing to an improvement in labour conditions, and this data seems like a real disconnect from that. However, the first quarter is traditionally very bad for unemployment, which even before the economic crisis was bad,” said economist at Deutsche Bank Gilles Moec.

via UPDATE 1-Spain Q1 unemployment rate inches up to 25.9 percent | Reuters.

 

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