The number of unemployed in Spain dropped by a record number in December making up the second biggest monthly drop in 14 years and bringing hope to the 4.7 million people still without a job in the EU’s fourth-largest economy.
The number of people registered as unemployed fell by 107,570 in December, according to figures in the Friday’s Labour Ministry report published on Friday.
The jobless queue shrank by 147,385 people in the whole of 2013. The Ministry said it was the biggest December drop on record, and the second biggest of any month on record, according to the Wall Street Journal.
The unemployment rate also shrank among young people under 25 years of age reducing the number of jobless by 9.6 per cent in that category. The Labour Ministry has high hopes in further reducing unemployment among Spain’s youth in 2014, said Deputy Labor Minister Engracia Hidalgo pointing out the positive trend.
“These are encouraging figures which inspire us to continue working for the recovery and employment in 2014,” he added.
Chosen excerpts by Job Market Monitor. Read the whole story at