Spanish unemployment fell during February – The Economist

Spanish unemployment fell during February – The Economist

The country was in late February with 13,538 unemployed less than a month before, said Tuesday the Ministry of Employment, after rising in January.

The number of unemployed in Spain fell in February to 4.512 million people, announced Tuesday the Ministry of Employment, after rising in January.

The country was in late February with 13,538 unemployed less than a month earlier, said the statement from the Ministry of Employment.

“There are 300.333 unemployed less than a year ago, the biggest annual fall since 1999,” the statement added.

The Ministry of Employment only reports on registered unemployment and gives an unemployment rate.

According to the National Statistics Institute (INE), the unemployment rate was 23.7% of the workforce at the end of 2014, equivalent to 5.46 million unemployed.

To set the unemployment rate, the INE takes into account people who are actively seeking a job, whether or not registered with the Office of Public Employment Services.

Spain, after five years of economic crisis and a major recession in 2014 recorded an increase of 1.4 percent.

But the recovery is not sufficient to solve the employment problem: Spain has the second highest unemployment rate in the euro area just behind Greece

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