Sat. Apr 4th, 2020

Calviño says that the employment data confirm the "good tone" of the economy

Calviño says that the employment data confirm the "good tone" of the economy



The Minister of Economy and Business, Nadia Calviño, today described as "very positive" the data on Social Security affiliations, hiring and unemployment in the month of October and considered that they confirm the "good tone" of the Spanish economy.

"Our objective has to be that there are no unemployed and the objective is to reduce the unemployment rate as much as possible, but we must confirm that the data is positive," said the minister upon her arrival at the Eurogroup meeting held in Brussels .

Calviño stressed that Social Security enrollment increased in October by around 3% and unemployment fell by approximately 6%, while a "record" indefinite hiring was achieved.

He considered that this is also "consistent" with the data of economic growth in the third quarter and with the "even more optimistic data" of the forecasts published today by the Independent Authority of Fiscal Responsibility (AIRef) for the fourth quarter, which expects a growth of 0.8% compared to 0.6% in previous quarters.

"We have risks around us, uncertainties and challenges ahead, but these data confirm the good tone of the Spanish economy," the minister concluded.

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