Spain’s Unemployments Falls To 2007 Levels

The number of registered jobless in Spain rose by 1.75 percent in January from a month earlier, or by 77,980 people, leaving 4.53 million people out of work, data from the Labor Ministry showed on Tuesday.
The increase in joblessness, the first since October, was mostly due to a rise in unemployment in the services sector, marking the end of the busy Christmas period. The number of people out of a job in the sector rose 2.68 percent, or by 76,744 workers.

That was partially offset by a fall in joblessness in construction by 7,857 people, or 1.45 percent, the ministry figures showed.

The number of jobless was down by 288,744 people in January from a year earlier, or by 6 percent.

In seasonally-adjusted terms unemployment fell by 42,723 people month on month. January is usually a poor month for employment but seasonally adjusted claims posted its best January ever, according to the Dow Jones. The number of people seeking jobless benefits also rose at its slowest pace in any month of January since 2007, according to the news agency.

via CNBC

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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