May sees record drop in Spain unemployment

The number of unemployed people registered with Spain’s public employment services fell by 117,985 in May from April to a total of 4.22 million, marking the best result for  the month of May since records began in Spain.

The rise in job creation was mainly driven by seasonal factors, given that the country is starting to welcome summer tourists.

The Spanish government forecasts the economy will grow by 2.9% in 2015. And it has promised to create half a million jobs to cut the unemployment rate from the current 23.8% to  22.1% by year-end. PM Mariano Rajoy, from the conservative Popular Party, is facing general elections in November. The positive jobless data is being pitched by the PP as a reason for them to remain in power for another four years.

One of the debate’s key issues is the quality of  work contracts: temporary ones are by far the most prevalent in Spain. 

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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