Spain Tourism Boost Fizzles Amid Recession: Economy
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Spanish registered unemployment in May fell less than a year earlier as a deepening recession in the euro area’s fourth-largest economy damped hiring in the run up to the country’s peak tourism season.
The number of people registering for unemployment benefits fell by 30,113 from April to 4.71 million, less than half the 79,701 drop in the same month last year, data released by the Labor Ministry in Madrid showed. The figure is the worst for a month of May since the start of the crisis in 2008.