Spain’s Unemployment Falls To Lowest Since 2008 With Summer Job Boost

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The number of people registered as unemployed in Spain fell in June to the lowest figure since May 2008, before the bursting of a real estate bubble led to a deep crisis in the country.

According to data from the Labour Ministry released on Wednesday, a total of 2.41 million people were registered as unemployed in June, down by 48,920 from the previous month.

The number was not that low since 2.38 million jobless people in May 2008.

Unemployment traditionally falls in Spain during the summer when the hospitality industry hires thousands of workers to serve the millions of tourists who visit the country.

Spain gained 40,399 net formal jobs in June, bringing the number of people with a formal job to 21.6 million, on a calendar-adjusted and excluding seasonality, a separate report from the Social Security Ministry showed.

(Reporting by Tiago Brandao, editing by Inti Landauro and Louise Heavens)