Spanish unemployment saw record drop in April
The number of unemployed in Spain fell at twice the expected rate in April, setting various records for that month in the process.
There were 118,923 fewer people out of work last month, with the total tally reaching 4.333m, according to the country’s national employment agency (INEM).
Economists had been expecting a drop of 65,100 in the number of unemployed.
It was the third consecutive monthly drop, following reductions of 13,500 and 60,200 in the month before.
On average, over the last seven years Spanish unemployment has declined by 25,000 people in April.
Upon seasonal adjustment unemployment was lower by 50,160 people in April – the largest decrease ever for that month - and has now been on the retreat for 24 months, the country’s jobs ministry said.
The largest fall in unemployment was seen in the country’s largest sector, services (-72,284), but also fell by 19,449 in construction, by 15,219 in agriculture any by another -11,555 at factories.
In year-on-year terms unemployment was reduced by 7.5%, setting another record.
The number of people registered with Spain’s national insurance scheme grew by 1% month-on-month, or by 175,495, the most since data started to be compiled in 2001.