Unemployment numbers in Spain fall on signs of recovery: official data
July 25, 2014, 12:05 am TWN
MADRID -- The unemployment rate in Spain fell sharply in the second quarter slipping beneath 25.0-percent, official data showed on Thursday in a further sign that the country is pulling away from deep economic crisis.
The rate fell by 1.45 percentage points and the number of people looking for work fell by 310,400, marking the biggest quarterly fall since the series of statistics began, the data showed.
This was the first time the rate had been less than 25.0 percent, or one in four of the workforce, since the third quarter of 2012.
But 5.5 million people are still unemployed in Spain, which is slowly emerging from deep recession following the global financial crisis since years ago that burst a property bubble and threw the country into deep crisis.