Spain Unemployment Declines Sharply

(RTTNews) - Spain's unemployment declined at a sharper-than-expected pace in April, data from the labor ministry showed on Tuesday.

The number of unemployed fell by 67,420 from the previous month compared to the expected increase of 6,500.

On a yearly basis, unemployment decreased by 153,782 or 5.77 percent. With this fall, registered unemployment was 2.5 million, the lowest since July 2008.

By economic sector, registered unemployment plunged 49,660 in services and by 3,817 in construction. In industry, unemployment was down 2,920 and fell by 3,323 in the farm sector.

Further, data showed that unemployment among young people aged below 25 years fell by 20,095 in April compared to the previous month. This was the largest drop in April since 2001.

As a result, the number of registered unemployment was 177,429, the lowest in the historical series for the month of April.