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Spain Q3 unemployment rate drops to 19.79 pct

MADRID, Oct 29 (Reuters) - Spain’s unemployment rate fell to 19.79 percent in the third quarter, the first drop since the second quarter of 2007, the National Statistics Institute said on Friday.

The third quarter figure compares to 20.09 percent recorded in the second quarter and a Reuters poll which had forecast unemployment at 20.10 percent.

The government does not expect the struggling economy to begin to create net employment until mid-2011. (Reporting by Paul Day; Editing by Sonya Dowsett)

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