August 2, 2018 / 7:48 AM / 20 days ago

Number of Spanish registered workers hits 10-year high

MADRID (Reuters) - The number of workers paying in to Spain’s social security system rose to its highest level in ten years in July, data showed on Thursday, as the country’s jobs market extends its recovery from a deep slump.

Spain shed millions of jobs during a five-year economic downturn that began in 2008 after a property bubble burst.

Unemployment peaked at close to 27 percent in the first quarter of 2013. Since then some 2.9 million jobs have been created, equivalent to 86.5 percent of those lost during the downturn, the Labor Ministry data showed.

Some 19.14 million employees paid into the social security system last month, up 0.19 percent from June.

The number registering as jobless fell by 0.86 percent to 3.14 million, while in seasonally adjusted terms, 12,183 fewer people registered as unemployed, the ministry said.

Unemployment fell in all major sectors, with services accounting for the most marked drop due to the onset of the busy summer tourist season.

The quarterly unemployment rate based on a survey rather than registrations fell to 15.3 percent in the second quarter, the lowest level since the end of 2008, Spain’s statistics institute said last week.

Reporting by Paul Day; editing by John Stonestreet

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