Spanish unemployment fell by 127,000 in June (versus expectations of a fall of 80,000 to 100,000)

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Unemployment in Spain fell by127,200 in June, beating analysts' expectations of a fall of between 80,000 and 100,000.

Jobless claims also fell by 2.6 per cent month-on-month as hiring began for the holiday season.

Eurostat yesterday reported that Spanish unemployment hit 26.9 per cent in May - higher even than the 26.8 per cent in Greece.