Unemployment in Spain grew for a third successive month as it went up by 2.6 percent in October. According to reports by the Spanish National Institute of Statistics, unemployment was on the rise as the number of unemployed people increased by 98,906 in October.
However, a total of 192,658 jobs were lost in the previous month but part of it was offset with new jobs coming up across different sectors. 62,447 new jobs were added in the service sector and 8,802 new workers found jobs in the construction industry.
The job market had fared better in the period from May to July. But since then, unemployment has been rising for the last three months. According to the Spanish government, Spain’s unemployment rate was at 17.9 percent in the third quarter- a high for the European Union.
More than 4 million Spanish people are feared to be jobless by the start of next year.