Unemployment in Spain fell for the first time in 14 months in May. According to comments of the Ministry of Industry, Miguel Sebastian, the fall in unemployment could be the sing of start of the end of crisis. He also added that the May numbers were the first reduction in unemployment in industry for nearly two years. By the research of Ministry for Employment and Immigration, there was a return to positive data for the numbers of people signed up to the Spanish Social Security System over May.

Unemployment falls in May after 14 months of rises

Unemployment in Spain fell for the first time in 14 months in May. The numbers from the Ministry for Employment show that 24,741 people came off the list which leaves 3,620,139 people out of work.
There were improvements in all sectors, especially construction where there was a 2.1% fall with 15,905 finding work.
However the increase in unemployment compared to a year ago remains 53.8%.
General Secretary for Employment, Maravillas Rojo, said that it was too soon to say the number showed a turn around, but there were signs that the destruction of jobs was ending.
Minister for Industry, Miguel Sebastián, has said that the May unemployment data, which saw a fall of 24,700, was better than expected and could be the ‘start of the end of the crisis’, although that he lamented that the Madrid region saw unemployment continuing to rise as the PP administration attacked the measures prepared by the Government. He also noted that the May numbers were the first reduction in unemployment in industry for nearly two years.
However despite the optimism from the minister the fact is that unemployment in Spain continues to double that in the Eurozone.
Union CCOO notes that the number of companies making ERE applications to reduce employment levels have multiplied by five since March in Madrid. 253 ERE have been made in Madrid, affecting 13,791 workers.

Meanwhile there was a return to positive data for the numbers of people signed up to the Spanish Social Security System over May. 69,304 people more people were signed up over the month (up 0.38%) to take the total to 18,103,487, according to the Ministry for Employment and Immigration.

Iberdola has announced the sale of 10% of its shares in Gamesa, with plusvalías of 112 million €. It leaves them with 14% of the capital. However the shares of the renewable energy firm fell sharply after the deal was announced.

The Spanish Supreme Court has justified the decisions often taken in Spain to evict someone from their rented home if they are late on two monthly payments. The court was asked to consider the matter and referred in its ruling to a consideration of jurisprudence. The court notes that the rental contract has to stipulate a maximum payment period for the rent.

A new report from the BBVA bank research unit has forecast that house prices in Spain are set to fall by more than 20% between now and the end of next year.
It means they are predicting a 30% total fall since the market highs.

And finally,
As the world comes to terms with the GM chapter 11, in Spain the Minister for Industry, Miguel Sebastián, is confident that the government’s 200E plan will slow down the fall in new car registrations by at least 10%. He said he was in agreement with the dealers who say they have seen an increase in the number of visitors.