Spanish unemployment shoots down on back of summer jobs

THE NUMBER of unemployed Spaniards dropped dramatically between April and May, falling by 98,300, nearly double the average improvement in May.

Though seasonal work always helps bring down unemployment in Spain at this time of year, the figures announced yesterday were particularly positive. It is the largest May fall in unemployment ever recorded by the Spanish government.

Nearly a third of the fall came from falling youth unemployment, with 32,000 fewer under-25s out of work last month. Many of the new jobs emerged in hospitality and services, traditional summer work.

Employment rose, with 36,160 more people working than in the same month in 2012, a 2.9 per cent increase. Last year, the largest positive change to the Spanish labour market came in June, indicating that there may still be further good news to come for the struggling economy.

A total of 4.89m people remain out of work in Spain, 26.8 per cent of the workforce. More than half of young Spaniards are jobless and searching, with a cripplingly high 56.4 per cent unemployed, second only to Greece in the Eurozone.