Updated on
Summary Spain's Labor Ministry says number of filing for unemployment benefits rose by 177,470 in January.
Spains jobless rate stands at a 22.9 percent, the highest in the 17-nation eurozone. The economy posted negative growth in the fourth quarter of 2011 and is expected to enter recession this quarter.The new right-leaning Popular Party government is promising a major labor reform next week in a desperate bid to reboot the economy.Later Thursday, Spain tests investor sentiment again when it issues a range of bonds. There have been signs lately that investors are less concerned than they were at the end of last year. Its borrowing costs soared last year but have dropped sharply in recent weeks.
