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Latino Daily News

Wednesday December 4, 2013

Spanish Unemployment Rate Drops 2 Percent Over Last 12 Months

Spanish Unemployment Rate Drops 2 Percent Over Last 12 Months

Photo: Spanish economy

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The number of registered unemployed people in Spain declined by nearly 99,000, or 2.02 percent, during the 12 months that ended Nov. 30, the Ministry of Employment and Social Security said Tuesday.

The ranks of the jobless also shrank last month compared with October, marking the first ever drop for November in the current statistical series.

More than 4.8 million people are listed on Spain’s official registers of the unemployed.

Unemployment fell last month in construction, 1.81 percent; and industry, 0.84 percent; but increased by 2.15 percent in the agriculture and fishing sector.

The unemployment rate for first-time job-seekers climbed 0.23 percent in November, while joblessness among people under 25 inched up by 0.27 percent from October.

Last month’s more than 1.2 million new hires represent a gain of 7.79 percent compared with November 2012, the ministry said.

At the same time, the number of people registered with Social Security declined 0.41 percent in November to 16.29 million, according to the report.

Social Security registrations are seen as a proxy for the level of formal employment.

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