Financial Times FT.com

Spanish unemployment hits four-year high

By Victor Mallet in Madrid

Published: October 24 2008 10:05 | Last updated: October 24 2008 10:05

Spanish unemployment rose to 11.3 per cent of the workforce in the third quarter from 10.4 per cent in the second, reaching its highest level in more than four years and remaining the highest in the European Union, according to official statistics released on Friday.

Although the number of those without jobs – 2.6m – was slightly less than the consensus predictions of economists, fast-rising unemployment is an embarrassment for the Socialist government of José Luis Rodríguez Zapatero, the prime minister. He has made job creation his primary goal.

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