Financial News: Spain Unemployment Declines For Sixth Straight Month

Spain Unemployment Declines For Sixth Straight Month

08/02/2024 - 05:21:00 (RTTNews)

(RTTNews) - Spain unemployment declined for the sixth consecutive month in July, the labor ministry reported Friday.

The number of people out of work decreased 10,830 or 0.42 percent in July from the previous month. This was the sixth consecutive decline in unemployment.

As a result, the number of registered unemployed fell to near 2.5 million.

Nonetheless, unemployment was expected to fall markedly by 17,400.

The ministry said unemployment either decreased or remained broadly unchanged in all sectors compared to June.

In the service sector, unemployment decreased by 6,591 on month and it fell 1,534 in agriculture. While unemployment dropped by 289 in industry, construction sector reported an increase of 508.

Unemployment among young people aged below 25 years fell by 210 people or -0.12 percent in July compared to the previous month.

Youth unemployment has been declining for 39 consecutive months and has reached an all-time low of 174,926, the ministry said.

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