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Number of unemployed in Spain grew by 78,000

Tuesday, Feb 03 2015
The number of unemployed registered at the offices of the Public Employment Services has increased in January 2015 to 77,980 people and places the total at 4,525,691 people. Analysts were expecting increase by 83,400. Although January is a month that has always increased unemployment, this month is the smallest increase since 2007. In the last seven years, the registered unemployment in January had grown by an average of 144,000 people. 
 
In seasonally adjusted terms, unemployment decreased by 42,723 people, the best reading in January historical series. Except July 2014, the number of unemployed in seasonally adjusted terms has been declining every month since May 2013, accumulating 22 months of fall. In the last 12 months, registered unemployment has decreased by 288,744 people, the largest annual decline in unemployment in a year since 1998, with an annual reduction rate standing at 6%. 
 
After the data euro edged down slightly and is currently being traded few points above 1.1320 level. Pair is likely to find support around 1.1260 area and resistance above 1.1360 level. There will be no major data releases in the rest of the session.
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