The rate of unemployment in Spain, which at 27 per cent is among the highest in the EU, "is beginning to show signs of improvement," reports El Economista.

The ministry of employment announced on July 2 that the number of jobless had fallen by 127,000 in June when compared to the previous month. This is the fourth consecutive monthly decline in unemployment, and the first year on year half-yearly decline since the start of the crisis in 2008, points out the economic daily. Some 4.76 million people are still registered as unemployed with the Spanish National Institute for Employment (INEM).

Unemployment rates generally decline in June, with the start of the summer holiday season and increased recruitment in the tourism sector. But this year, unemployment declined across all sectors, including heavy industry and construction, but with the exception of agriculture.