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Jobless rate declines to 26.26 percent

Spain´s unemployment rate falls

Redacción

The national statistics office, INE, said on Thursday that the number of unemployed people dropped by 225,200 over the quarter to reach a total of 5,977,500 in the fourth-largest economy in the eurozone.

Spain suffers from the highest level of unemployment in Europe after Greece, which had an unemployment rate of nearly 27 percent in April.

The unemployment rate in Spain is even worse among the youth as more than 50 percent of young Spaniards are out of work while the country is struggling through a double dip recession.

The number of people who were in work rose for the first time in five years and the total jobless figure slipped below six million. Any improvement is welcomed by the government as it bolsters their repeated claims that the economy is about to climb out of its long recession.

Of the jobs created, 162,000 were temporary and mostly part-time, while the number of workers on permanent contracts fell by 50,400. The percentage of workers on temporary contracts rose by one percentage point to 23.12 percent. The number of self-employed workers increased by 37,100.

Employment in the public sector was largely stable, while in the private sector it increased by 151,600 to 13.940 million. Despite the improvement in the second quarter, the number of people out of work was still up 284,500 when compared with the same period a year earlier.

Seasonal holiday jobs accounted for most of those created. Tourism sector is expected to be strong this year as cash-strapped Europeans look for budget holiday destinations while avoiding Egypt and other Middle Eastern troublespots.

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