Spain’s unemployment declined sharply in March, data released by the labor ministry showed on Tuesday.

The number of unemployed declined by 59,149 in March or 1.48 percent from the previous month. This was the third largest decline on record. The number of people out of work totaled 3.94 million in March.

Registered unemployment decreased by seasonally adjusted 31,277 in March.

By economic sectors, unemployment in services fell 53,686 and that in construction declined 7,685. In industry, unemployment dropped 3,675 but it increased by 2,368 in farm sector.

Unemployment among under 25 years of age decreased by 8,610 people or 2.35 percent compared to the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

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