Spain's unemployment figures drop to 7-year low in June
Jessica Jones · 5 Jul 2016, 08:41
Published: 05 Jul 2016 08:41 GMT+02:00
In June, the number of unemployed people in Spain fell by 124,349, taking the total number of unemployed in Spain to 3,767,054.
The drop marks the lowest unemployment level since September 2009, right at the beginning of the economic crisis that would cripple Spain and send unemployment skyrocketing.
But the seemingly excellent news hides the fact that many new jobs found in June are merely seasonal summer jobs, the majority with short-term contracts and little stability.
According to the Ministry of Employment. 1.9 million summer contracts have been signed. In seasonally adjusted terms, unemployment has fallen by 48,579 people in June; one of the biggest reductions in this month Spain has ever seen.
Among those younger than 25 years old, unemployment fell by 24,522 in June; a reduction of 7.55 percent compared to May.
Catalonia, Andalusia and Galicia were the regions where unemployment fell the most in June, perhaps due to the high number of summer jobs available.