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Spain jobless rate falls in May

06-05-2012 09:35 BJT

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Spain's jobless rate fell for a second straight month in May as data from the Labour Ministry showed on Monday. The rate eased by 0.6 percent last month versus April. Analysts say this is due to a boost in hiring as the country’s approaches its peak tourism season.

On an annual basis, the jobless rate is however still up by almost 13 percent, leaving nearly 5 million people in the country out of work. In the first quarter of this year, Spain recorded an unemployment rate of over 24 percent, the highest in the euro zone. May’s jobless rate fell across all sectors, with the biggest margin in agriculture.

It is estimated the country’s economy will further contract in the second quarter of this year and comes as the Spanish government is trying to convince people it can tackle a budget deficit similar to that of Greece and a deepening banking crisis.



Editor:Zhang Rui |Source: CNTV.CN

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