The Strategist

Unemployment in Spain Fell to the Minimum

07/23/2015 - 17:01

Unemployment in Spain in the II quarter of 2015 fell to the lowest level since July-October 2011 against the background of accelerating economic growth in the country, reports Bloomberg.

According to the Spanish statistical office INE, unemployment rate in April-June decreased to 22.37% from 23.78% in the previous quarter.

Analysts, surveyed by Bloomberg, expected to decline to 22.5%.

Spanish Prime Minister Mariano Rajoy refused the hard cutting jobs and wages of employees to support the labor market in 2012 from. At the time of his coming to power in December 2011, the unemployment rate was 22.6%, in the I quarter of 2013 it reached a record 26.9% for the country.
Despite the increase in employment in recent quarters, its level in Spain is the second highest among EU countries. Greece takes the first place on this indicator in the EU.

The number of unemployed in Spain is more than 5 million people. M. Rajoy promised to create more than 600 thousand of new jobs in 2015.

The Spanish government expects GDP growth in 2015 by 3.3%, in 2016 - by 3%.


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