Financial News: Spain Unemployment Declines Sharply In May

Spain Unemployment Declines Sharply In May

06/04/2024 - 05:40:00 (RTTNews)

(RTTNews) - Spain's unemployment declined sharply in May, data from the labor ministry revealed on Tuesday.

At the end of May, unemployment fell 58,650 from the previous month. Registered unemployment totaled 2.61 million, which was the lowest figure for the month of May since 2008.

On a yearly basis, unemployment decreased 131,260.

By economic sectors, registered unemployment decreased in all sectors. Unemployment in the service sector declined 44,467 and that in construction decreased 3,867. Industry and the farm sector reported a fall of 3,715 and 2,249, respectively. Unemployment among young people aged below 25 years decreased by 9,007 or 4.79 percent compared to the previous month, a rate that doubles that of those older than this age reference, the ministry said.

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