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Financial News: Spain's Jobless Rate Lowest Since 2008

Spain's Jobless Rate Lowest Since 2008

10/26/2017 - 05:38:00 (RTTNews)

(RTTNews) - Spain's unemployment rate dropped to a near nine-year low in the third quarter, the statistical office INE said Thursday.

The jobless rate fell to 16.38 percent from 17.22 percent in the second quarter. In the same period of 2016, the unemployment rate was 18.9 percent.

This was the lowest rate since the fourth quarter of 2008 and also below the expected level of 16.6 percent.

The number of unemployed declined by 182,600 to 3.73 million in the third quarter.

Data showed that employment increased by 301,700 in the service sector and by 139,400 in industry. In construction, 47,400 jobs were created.

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