Spanish unemployment falls for first time in 14 months
By Vasilije Gallak on Jun 2, 2009 in Business News, Featured, Spain
Madrid – Spain’s official level of unemployment fell to 3.6 million people in May, experiencing its first decline in 14 months, the Labour Ministry said Tuesday.
Unemployment went down by about 24,700 people, after rising for 14 consecutive months.
The figure did not yet mean that Spain had overcome its economic difficulties, senior official Maravillas Rojo conceded.
Spain went into a recession late last year after being hit by the collapse of its construction sector and the international crisis.
In April, the National Statistics Institute put the jobless rate at 17.4 per cent, the highest in the European Union. (dpa)