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Author
The Associated Press
Date
October 11, 2013

News Summary: Spanish minister seeks job growth

ECONOMY IMPROVING: Spain’s economy minister says third-quarter economic data will show growth after eight straight quarters of contraction, but says faster growth will be needed to “make a real impact” on one of the highest unemployment rates in the European Union.

JOBS WILL FOLLOW: Luis de Guindos told The Associated Press in an interview Thursday he expects there will be “an important reduction in the unemployment rate” next year for the first time since 2008. The rate stands at 26.2 percent.

HOW SOON: Asked when the rate might fall below 25 or 20 percent, de Guindos said did not reply directly but said the “evolution of employment” is more important than the rate and that economic growth “has to be enhanced in order to make a real impact.”

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