Spain unemployment claims dropped 16,620 in March

Nathan Andrada – Fourth Estate Cooperative Contributor

Madrid, Spain (4E) – The number of registered job applicants in Spain declined in March from February, further evidence that the job market in starting to improve in the euro zone’s fourth-biggest economy.

The number of people filing for unemployment benefits fell by 16,620 in March from the previous month to below 4.8 million, according to the Spanish labor ministry’s report released Wednesday. Over the last 12 months, the figure has dropped by 239,377.

The number of people registered through the social security system as employed – a gauge of total employment — climbed 0.71 percent to 16.3 million in March from the previous year, according to government data. The figure supports projections by the government and the private sector that Spain is likely to post a growth in employment this year.

The ministry did not offer an estimate for the nation’s jobless rate. The Spanish unemployment rate in the fourth quarter was 26 percent of the workforce, according to statistics institute INE’s data released in January.

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