Unemployment in Spain at lowest for eight years

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SPAIN’S UNEMPLOYMENT figure hit its lowest level in eight years in June, figures from the Spanish Ministry of Employment and Social Security showed on Tuesday.

The number of unemployed dropped by 98,317 persons to 3.36 million, which the ministry said was the lowest level in the past eight years.

On a seasonally adjusted basis, the decline was 21,668 persons.

On a year-on-year basis, the unemployment figure fell by 404,243 persons, which was the largest annual decline for June ever recorded.

Unemployment among 15-24-year-old Spanish declined by 16.5 per cent.

In June, the construction sector recorded the biggest fall in unemployment.

A record 2.1 million job contracts were registered during June, up 8.81 per cent from a year ago.

Of these, 166,462 were short-term contracts for temporary jobs, up 12.17 per cent year-on-year. Such contracts have risen for 41 months in a row, the ministry noted.

Separately, the ministry announced that the number of those registered within the social security system, viewed as a measure of job creation, rose by 87,692 persons to 18.4 million.

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