Summer Hiring Reduces Spanish Jobless

The number of registered job seekers in Spain fell in May as more firms hired people on a temporary basis ahead of the peak summer season.

Official statistics showed 4.89 million people were registered as jobless, the lowest level in six months.

Including the impact of temporary holiday hiring, the number of registered job seekers fell by 98,265.

“It’s the best data we’ve seen since the crisis began,” said Industry Minister Jose Manuel Soria.

Mr Soria said the non-seasonally adjusted drop was the biggest on record for May.

However, on a seasonally-adjusted basis, the number of jobless dropped by just 265 people compared with April.

The ministry did not provide a fresh estimate for the country’s unemployment rate.

Last week, the European Commission’s statistics office, Eurostat, said Spain’s unemployment rate for April was 26.8%, the second-highest in the eurozone after Greece.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza