Spain unemployment falls first time in a year

2nd June 2009, Comments 0 comments

Spain’s government welcomes the good news that unemployment dropped in May for the first time in 12 months by over 24,000.

Madrid – Spanish unemployment fell in May for the first time in 12 months, by 24,741 people, the employment ministry said on Tuesday.

The total number of unemployed was 3.620 million in May, the ministry said.

"It is certainly good news, which must be analysed carefully because it will be necessary to observe the development of economic activity in the coming months," said secretary general for employment Maravillas Rojo.

"We are aware that we cannot interpret these figures as a victory over the bad circumstances that we are going through, but there are signs indicating ... a brake in the decline in employment."

Spain has been particularly hard hit by a recession owing to the economic crisis of recent months, with unemployment more than doubling in a year after the end of a decade-long boom driven by the construction industry.

The government uses a different calculation method from that of the national statistics institute which releases the monthly unemployment rate. In April the institute said unemployment was a huge 17.36 percent, more than double the average for the European Union.

AFP / Expatica

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