Summer hiring drops jobless numbers in Spain

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by Laura Matovina

MADRID (AP) -- The number of people registered as unemployed in Spain fell by 27,814 in July as more people found work in summer tourism.

The Labor Ministry says the total number of people registered as jobless is now 4.58 million. It was the fourth straight monthly decline.

Spain is in its second recession in three years with an unemployment rate of nearly 25 percent. It is struggling to avoid having to seek a financial bailout.

The country tests investor confidence Thursday with mid and long-term bond auctions.

It hopes the European Central Bank will later announce measures that might ease the pressure on its borrowing costs.

Later Thursday, Prime Minister Mariano Rajoy is due to meet Italian Premier Mario Monti in Madrid.

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