Unemployment falls in Spain
www.euronews.net




July 02, 2003

Spain, one of Europe's fastest growing economies has recorded its fifth successive monthly fall in unemployment despite a contraction in its manufacturing sector.

In June the total number of people out of work and claiming insurance benefits fell to 1.6 million, 7.500 less than in May.

The unemployment rate has fallen steadily from 9.4 percent in January hitting 8.9 in April with a bigger fall to 8.6 percent in May. The latest reduction in people out of work leaves the rate unchanged.

Minister of Work Eduardo Zaplana said "the figures are positive but if we look at major economies in Europe such as Germany we can see unemployment rising."

Despite a global slowdown, Spain has achieved growth in gross domestic product of 0.5 percent in the first quarter compared with the previous; 2.1 percent on a yearly basis.

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