Spain's employment rate receives mild boost due to the tourism season

Spain's tourism sector contributed to the country's drop in the unemployment rate in 2 consecutive months. According to the Labor Ministry located in Madrid, the jobless rate declined by 0.63% from the month of April to 4.71M; however, still remains above 24%. As Mariano Rajoy, Spain's Prime Minister, challenges to persuade investors that he is capable of resolving the budget deficit, the country's borrowing expenses rocketed since the month of March.