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Financial News: Spain Unemployment Declines Sharply In May

Spain Unemployment Declines Sharply In May

06/04/2019 - 08:20:00 (RTTNews)

(RTTNews) - Spain's unemployment decreased sharply in May, data from the labor ministry showed Tuesday.

The number of unemployed persons decreased 84,075 in May from the previous month. As a result, registered unemployed totaled 3.07 million, the lowest level for the month of May in last ten years.

Compared to last year, unemployment plunged 172,639 or 5.31 percent in May, the ministry said.

The number of people out of work decreased the most in services, by 54,762. Unemployment fell by 8,085 in industry, and by 9,040 in construction.

Unemployment among youth aged below 25 years also decreased in May, by 11,287 from the previous month.

Data from the Eurostat showed that the unemployment rate in the euro area fell to the lowest since 2008. The jobless rate came in at 7.6 percent in April versus 7.7 percent in March.

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