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Spain's jobless level tops 26%

Spain's unemployment rate edged up slightly for the fourth quarter of last year, leaving it stuck at the sky-high level of 26%.

Joblessness for the October-December period rose to 26.03% from 25.98% in the previous quarter and the number of unemployed stood at 5.9 million people.

The unemployment report released today said jobs were lost in Spain's services, construction and industry sectors but were added in agriculture.

Spanish government officials say the sluggish economy has been stabilised and is on track for job growth, but economists predict it will take years to bring the jobless rate down to a more tolerable level.

AP

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