Spanish unemployment drops for first time in three years

Fri, 29 Oct 2010

Madrid - Spain's jobless rate fell below 20 per cent in the third quarter, in its first decline in more than three years, the National Statistics Institute (INE) said Friday.

The number of unemployed people dropped by 70,800 to about 4.6 million. The jobless rate thus stood at 19.8 per cent, down from 20.1 per cent in the previous quarter.

Prime Minister Jose Luis Rodriguez Zapatero's government has introduced a controversial labor market reform to cut what is the highest unemployment rate in the European Union.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/news/350968,spanish-unemployment-drops-for-first-time-in-three-years.html.