The Spanish labor market withstood rising inflation and a truck strike in March, and saw a drop in unemployment, according to data released today, largely thanks to reforms aimed at reducing the use of temporary contracts.
The number of people registered as unemployed in Spain fell 0.09% in March from February, or 2,921 people, leaving 3.11 million people out of work.
Spain added 23,998 jobs during the month, up 0.12% from February.
The number of people enrolled in social security programs reached 19.96 million, which is the highest percentage observed after 11 months of continuous growth, the Ministry of Social Security said in a separate report.
Spain has long seen high unemployment, mainly due to the ease with which employers can lay off staff in a market in which almost a quarter of jobs are on temporary contracts.
The rate of 12.6% in February, however, remains the highest among the members of the European Union.
Source: Capital
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