Spanish Unemployment Falls to 20.9%

Spanish unemployment figures experience their biggest ever annual fall but unemployment remains at over 20%.

The National Statistics Institute said the number of unemployed Spaniards fell by 12.4% to 4.78 million last year thanks to a strengthening economy.
In the fourth quarter the rate dropped to 20.9% of the workforce, compared with 21.2% three months earlier.
The figures, which are better than predicted, are at their lowest level since mid-2011.

The economic recovery pushed the number of unemployed people down by 678,200 for the whole year.

But there is concern that much of the growth depends on short-term jobs
The data showed almost twice as many temporary posts were created in 2015 than permanent ones.
Vincenzo Scarpetta, a political analyst at Open Europe in London, said: “If the economic cycle starts going less well, those jobs could start to evaporate.”

Economists fear that the inconclusive election, that has yet to result in a government, could delay much needed reform of the labour market.
Spain has suffered a double-dip recession which pushed unemployment to just under 27% at the end of 2013.

via BBC

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