Spanish Jobless Claims Dropped in May thanks to Summer Jobs Hiring
The number of registered job seekers in May fell by almost 100 K, confirming Rajoy’s prediction and lending support to the government’s forecast of an economic recovery by the end of the year.
Dow Jones Newswires noted:
“Spain’s labor ministry said Tuesday the number of people filing for jobless benefits fell 2% to 4.89 million in May from April, the lowest mark since December last year. The number of job seekers fell by 98,265, the largest drop in the month of May ever, the ministry added. The decline was almost double the average fall seen in the month of May, traditionally a good one for employment because of strong hiring ahead of the busy summer holiday season.”