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7/27/12

Spain unemployment edges up to 24.6% - overall eurozone stands at 11.1 percent

The number of people out of work in Spain shows no sign of dropping, with almost one in four people unemployed, according to the latest government figures.

The recession-hit country's unemployment rate rose 0.19 percentage points in the second quarter on the previous three months to 24.63 per cent, the country's National Statistics Institute said.

The Institute said Friday that 53,500 people more joined the ranks of the unemployed between April and June, making for a total of 5.69 million people out of work.

The rate is the highest among the 17 nations using the euro currency. 

Note EU-Digest: Eurostat, the EU's statistics office, said unemployment rose to 11.1 per cent in May from 11 per cent the previous month. May's rate was the highest since the euro was launched in 1999 and adds further urgency to the eurozone countries' plan to create economic growth and cut excessive government debt.

Read more: Spain unemployment edges up to 24.6% - World - CBC News

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