Unemployment still falling in Spain but it is far from won

Five consecutive months of falling unemployment in Spain. Is this a sign that the long-awaited by a Spanish economy in recession for two years back finally rears its nose. Not necessarily. In July, the fourth largest economy in the euro area has lost over 64,866 unemployed in June, a decrease of 1.36% in a month, according to the Ministry of Employment. This trend is confirmed by the Spanish National Institute of Statistics (INE), which uses a different method of calculation, but that in the second quarter, unemployment fell for the first time in two years to 26.26% of the workforce.
The toursime pulls the economy
But Spain is the slight improvement in part to tourism. The summer months are indeed prone to seasonal hiring in the fourth tourist destination in the world. With one caveat, however: the decline is "more than double that recorded in July 2012 and double the average decline for the month of July in the entire historical series," to satisfy the Spanish Ministry of Employment and all sectors, from manufacturing to services through the construction see the employment situation is a little better.
The road is still long
There is more than one young Spanish assets of less than 25 years in two (56.1%) is still unemployed, and if a slight improvement is felt, the country is still not yet in a position to create enough jobs to absorb its mass unemployment. The IMF estimated that Spain could soon emerge from the recession but recalled that historically, "Spain has never created jobs with less than 1.5% of GDP." With a GDP decline of -0.1% in the second quarter of 2013, we are still far off. Especially since the savings plan on massive public spending ordered by the European institutions and applied by Madrid since mid-2011 still weighs heavily on growth. According to analysts, the national wealth is expected to shrink by 1.3% this year. The road is still long.