Spain’s unemployment logged its biggest drop since the historical series began in 1996, the labor ministry said Wednesday.

The number of registered unemployed fell by 129,378 from the previous month to 3.78 million in May, following April’s decline of 39,012. In the same period last year, unemployment grew by 26,573.

The registered unemployment was down 3.31 percent, the largest fall on record.

Data showed that unemployment declined in all sectors in May. In services, unemployment fell by 93,327 and by 9,403 in industry. Unemployment in agriculture decreased 9,155 and fell 8,149 in construction.

Unemployment among young people aged below 25 years decreased 32,990, or 9.27 percent compared to the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

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