Spain Unemployment Rate Drops In Q2

Spain's unemployment rate dropped in the second quarter as service providers raised employment significantly, following the easing of restrictions related to the coronavirus pandemic, data from the statistical office INE revealed on Thursday.

The unemployment rate fell to 15.26 percent in the second quarter from 15.98 percent in the first quarter. However, the rate was above economists' forecast of 15.1 percent.

The number of people out of work decreased by 110,100 from the previous quarter.

At the same time, the number of employed persons increased by 464,900 from the first quarter to 19.67 million. On a yearly basis, employment grew by 1.06 million.

Employment in services grew 365,700 and by 63,100 in construction. Employment in industry and agriculture rose by 23,000 and 13,100.

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