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Spain's jobless just short of 5 million in January

AP
February 5, 2013, 12:14 am TWN

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MADRID--The number of people registered as unemployed in Spain is bordering on 5 million as the country remains mired in recession.

Labor Ministry figures released Monday showed the registered jobless figure surged by 132,055 in January to 4.98 million.

Spain is struggling to emerge from its second recession in just over three years with its economy battered by the collapse of the once-key real estate sector.

The country's unemployment rate was at 26 percent at the end of the fourth quarter, up 1 percent from the previous three-month period.

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	A man eats a snack as he walks by a low-budget lunch promotion in Madrid on Sunday, Feb. 3. Spain's recession is worse than thought after official figures showed the country's economy shrank 0.7 percent in the fourth quarter of 2012 from the previous three-month period. (AP) Enlarge Photo

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