
Aug 02, 2022 04:25AM ET
By:AnalysisWatch
The number of people registered as unemployed in Spain rose 0.11% in July over June, by 3,230 people, leaving 2.88 million people out of work as economic uncertainty began to be felt, the Labor Ministry said Tuesday.
It is the first time since 2008 that unemployment has risen in July, a month when the tourist season usually helps lower unemployment.
Still, it is the lowest level in July data since 2008.
"The economic situation is beginning to be felt in the labor market," Labor Minister Yolanda Diaz said on her Twitter account.
The increase was significant from the middle of the month, the ministry added in a statement.
"Inflation and the consequences of the war in Ukraine mark an uncertain and complicated scenario," she said. "We will not let our guard down: the best way to protect citizens in the face of the crisis is to bet on stable, quality jobs and fair taxation," he said.
Separate data from the Social Security Ministry showed that Spain added 9,104 net jobs during the month to 20.11 million, the 15th consecutive month of job creation.
Economy Minister Nadia Calvino told Cadena Ser that there was a slowdown in the labor market but added that it could not be compared to figures before the labor reform, as it introduced structural changes in the labor market and the tourism sector had strong hiring since March.
"The volatility of a particular month should not distract us from the big numbers," he said.
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