New jobs as Spanish economy begins to rev

construction2The unemployment rate in Spain has dipped below 25% for the first time in the last two years.

Some 402,000 people were able to find work in the months of April to June.

This brought the official rate down to 24.5% from the high of nearly 26% earlier in the year.

Analysts believe this is not only a result of the seasonal increase in jobs in the tourism sector, but also the sign of a burgeoning revival in the economy which has been growing at its fastest pace in six years, according to the Spanish central bank.

There are now 5.6 million people in Spain without jobs, compared to 17.3 million officially in work.

Seven years ago, unemployment in Spain registered just 7% but then rose sharply to nearly 27%.

The unemployment rate still ranks second highest in Europe.