Both German and Spanish unemployment fell unexpectedly in December, providing a positive start to the year for both economies.

Whilst it is normal for unemployment to all in December due to companies hiring temporary employees for the festive period, both countries saw a bigger fall than expected by analysts. Spanish unemployment fell by 55,790 in December, decreasing for the second month running, with the seasonally adjusted figure sitting at 1,258. Germany’s adjusted figure fell further than Spain, with 14,000 fewer unemployed.

After an unexpected election, these figures give weight to the Spanish Acting Prime Minister Mariano Rajoy’s job creation pledges. In an interview with COPE radio, he commented: “There are fewer unemployed people now than when we arrived to government and social security sign-ups have been rising for two years,”, but stated that there was still much more to do.

05/01/2015