Spanish jobless data

MADRID: Spain’s unemployment rate registered a record fall last year, dropping nearly three percentage points to 20.90 per cent, according to statistics published on Thursday that confirm the country’s economic recovery. Spain exited recession in mid-2013 after five years of economic turbulence sparked by the collapse of a property bubble in 2008 which left millions of people out of work. As per INE National Statistics Institute, the number of people looking for work fell by 678,200 in 2015 to 4.78 million — the biggest drop it has ever registered, though it still remains the second-highest jobless rate in eurozone after Greece. The news will be a rare ray of sunshine for Spain’s embattled acting Prime Minister Mariano Rajoy, who had forecast a higher 21.1 per cent jobless rate for 2015.