Spain unemployment hits record 5 million in Feb

Spain unemployment hits record 5 million in Feb

PanARMENIAN.Net - Spain now has a record five million people registered as unemployed as the country remains stuck in recession, The Associated Press reports.

The Labor Ministry said Monday, March 4 that the number of people on the unemployment list in February jumped by 59,444 compared with January, making for a total of 5.04 million.

Spain is battling to emerge from its second recession in just over three years with its economy still reeling from the collapse of the once-booming real estate sector.

The country's unemployment rate was at 26 percent at the end of the fourth quarter.

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