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Spain: jobless falls again but still worst in Europe

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Spain: jobless falls again but still worst in Europe

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Spain’s unemployment rate fell in July for the fourth month running as summer tourism boosted the economy, however it remains the highest in Europe.

The registered jobless rate fell by 1.02 percent compared with June but there are 4.08 million Spaniards without a job.

In the second quarter the rate was 20.9 percent of the workforce according to the National Statistics Institute. That was down 21.3 percent from the previous quarter.

The jobless rate fell in all sectors of the economy, except agriculture.

There is not much other good news for the Madrid government. The Spanish economy continues to show signs of slowing. On Monday a purchasing managers’ survey showed manufacturing activity shrank in July for the third straight month.

Economists polled by Reuters have forecast that Spain’s economy will grow by just 0.8 percent this year.