Spanish Unemployment Rate Falls to 21-Year Low
The Spanish unemployment rate fell to 8.86 percent in August, the lowest level since December 1979, the labor ministry said on Monday.
The number of people registered as seeking jobs was 1,487,606, a drop of 1,179 from the figure in July, a ministry statement said.
Since August 1999, the number of jobseekers has dropped by 66,853 workers, or by 4.30 percent.
Unemployment decreased in the agricultural and services sectors, especially in tourism owing to the summer vacation season, and among first-time jobseekers.
It rose however in the industrial and public works sectors.
The constant decrease in Spanish unemployment accompanies strong growth in the national economy, which increased 4.2 percent in the second quarter of the year, an estimation by the Bank of Spain showed.
The government expects that the economy will create more than 400,000 more jobs by the end of the year -- MADRID (AFP).
© 2000 Al Bawaba (www.albawaba.com)
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