Some 4.7-M people are unemployed in Spain, the Spanish Ministry of Employment and Social Security reported Tuesday.

In September, unemployment increased by 1.72%, which implies 79,645 more people are unemployed. In the year ending September 2012, a 11.32% increase in unemployment was recorded.

Unemployment rates usually increase in September as many temporary summer contracts in the services sector expire. The jobless rate increased by 3.07% in the services sector but unemployment fell in agriculture by 1.61%, and construction by 1.26%.

Many Spanish students who finished their degrees in September also joined the ranks of the unemployed.

Women have been more affected than men by unemployment in September. For women, there was a 2% increase and for men a 1.4% increase in unemployment.

The unemployment rate increased by 6.98% for under 25′s, which implies that 30,463 more young people are unemployed.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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