Spanish Unemployment Rate Creeps Higher as Workforce Expands

Spanish unemployment unexpectedly rose in the fourth quarter, indicating the economic recovery isn’t strong enough yet for jobs growth to keep pace with the expansion of the labor force.

The jobless rate increased to 23.7 percent from 23.67 in the previous quarter, the National Statistics Institute said in Madrid today. Economists had forecast 23.5 percent, according to the median of eight estimates in a Bloomberg News survey.