Spain Jobless Rate Climbs In Q3

(RTTNews) - Spain's unemployment rose slightly in the third quarter despite an increase in employment, data from the statistical office INE showed Friday.

The unemployment rate rose to 10.45 percent from 10.29 percent in the second quarter.

The number of employed increased by 118,400 to 22.38 million in the third quarter. Meanwhile, unemployment increased 60,100 to 2.61 million. By sector, employment increased in industry by 64,100 and by 39,100 in services. Construction created 32,600 more jobs. Meanwhile, employment decreased by 17,400 in the farm sector. With GDP growth still projected to exceed potential, albeit at a softer pace, employment is likely to keep expanding, though more gradually, ING economist Ruben Dewitte said.

The economist said Spain will continue to stand out as one of the region's key employment engines with these numbers, contributing significantly to overall job growth.