Unemployment In Spain Falls To Lowest Level In Two Years
Spain News
Published: 25 July 2014 09:48 CET
Updated: 25 April 2018 12:31 CET
Over 400,000 were reportedly to have found work in the second quarter of the year. A fall that brings overall unemployment numbers down to 24.47%.
On Thursday, new record employment numbers were announced which showed that a total of 402,400 people found work in the country between April and June compared to last quarter. The majority of the new jobs are thought to be in two of Spain's biggest sectors, Tourism and Retail.
This means that the currently unemployment figures have now dropped from 25.9% to 24.47%, their lowest levels in more than two years.
Since 2007, unemployment levels have been between 8% and a high of 27%.
The figures are much better than expected even with an adjustment for seasonal work during this time of year.
It was recently announced that tourist numbers in Spain for the first half of the year are at 28 million visitors, which represents a rise of 7.3% on the same period last year. So this may very well be the cause.
There are now 5.6 million people unemployed in the country compared to 17.35 million in work.
Experts have forecast that the Spanish economy is set to do well this year with growth of around 1.2% likely with a further rise of 2% in 2015. This may well lead to a further reduction in unemployment numbers over the next 18 months.
