Spanish jobless rate jumps to 24%

Spain’s unemployment rate jumped to nearly 24 per cent in the final quarter of last year.

Finance minister Cristobal Montoro told a parliamentary commission that official figures showed 5.4 million people were out of work at the end of December, up from 4.9m in the third quarter.

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Spain already has the highest jobless rate in the 17-nation eurozone and is near its record of 24.5 per cent set in 1993.