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Spanish unemployment fell by 118, 923 in April

Tuesday, May 05 2015
The number of unemployed in Spain has dropped in April by 118 923 people, thus beating forecasts on decline by 64, 800. This is the largest decrease in unemployment in this month throughout the time series. In the past seven years, unemployment had declined on average in April by 25,000 people. In seasonally adjusted terms, unemployment decreased by 50,160 people, the best figure recorded in April. With the exception of July 2014, the number of unemployed in seasonally adjusted terms has been declining every month since May 2013, accumulating 24 months of decline.
 
In the past 12 months, registered unemployment has decreased by 351 285 people, the largest annual decline in unemployment in historical series, with annual reduction rate which stands at 7.5%.With this decline, the total number of unemployed stood at 4,333,016 people, 89 343 registered unemployed less than in December 2011.The registered unemployment decreased in all sectors.
 
After the data, euro, which was pushed sharply down at the opening of the European part of the session, gained few points and is currently being traded few points above 1.11 handle. Pair is likely to find support around 1.1050 area and resistance above 1.1150 level. Later today, in the US session, Trade Balance and Non-Manufacturing PMI figures are scheduled for a release.
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