The labor ministry of Spain reported an unexpected surge in unemployment in January. The figures showed that there was a monthly increase of 60,404 in unemployment.
The total number of registered unemployed in the country stood at 2.76 million, marking a decrease of 140,537 compared to the previous year. This figure represented the lowest level of unemployment for the month of January in the past 16 years.
When analyzing by specific economic sectors, the construction sector saw a drop in unemployment by 1,234. However, the service and agriculture sectors reported increases in unemployment, 58,721 and 1,256 respectively. The industry sector similarly saw a minor increase in unemployment, rising by 440.
As for youth unemployment, it rose by 7,189 compared to the previous month. Nonetheless, the total number of unemployed young people stood at 201,154, a figure which is the lowest ever recorded for the month of January.
