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Spanish unemployment decreased more than expected

Wednesday, Dec 02 2015
The number of unemployed registered at the offices of the Public Employment Services in November decreased by 27,071 persons, 0.65% from the previous month. Decrease by 10,300 was expected. This is the sharpest decline in registered unemployment in November in all the historical series. In the past eight years, registered unemployment increased on average in the month of November in 52,340 people. 
In seasonally adjusted terms, unemployment fell by 47,381 people last month. This fall is also the largest in the series in November. The monthly variation of the seasonally adjusted unemployment has fallen in 29 of the last 31 months.
 
In the last year the registered unemployment has decreased by 362,818 people, the largest annual decline in registered unemployment in historical series in November. The annual reduction in unemployment continues to decline at a rate of 8% (8.04%). This year rate of reduction is not reached in November since 1999. With this decline, the total number of unemployed stood at 4,149,298 people.
 
Euro is currently being traded around 1.0620 area. Pair is likely to find support around 1.0560 handle and resistance above 1.0630 level. Later today, in the US session, ADP job figures are scheduled for a release.
More in this category: « Australian GDP grew by 0.9% in Q3 UK Construction PMI weakest weakest since mid-2013 »

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