Spain jobless rate falls to lowest since 2010

Spain jobless rate falls to lowest since 2010

Spain’s jobless rate fell to the lowest level since 2010 in March, marking its second consecutive monthly decline.

Labour Ministry data released Tuesday signaled a drop by 48,500 in March, following a fall by 9,400 in February. Analysts had predicted a drop by 41,200.

The 12-month fall reached 392,000, which is the best March record ever.

Despite the recent progress in Spain’s labor market, unemployment remains the second highest in the euro area after Greece, with 18 percent seeking jobs.

As of 12:22 GMT, the euro slipped against the greenback to 1.0651 after taking a breather the previous session to resume its plunge since hitting a peak of 1.0905 on March 27.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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