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Financial News: Spain Jobless Rate Lowest Since 2008

Spain Jobless Rate Lowest Since 2008

01/28/2020 - 05:45:00 (RTTNews)

(RTTNews) - Spain's jobless rate declined to the lowest level since 2008, data from the statistical office INE showed Tuesday.

The unemployment rate fell to 13.78 percent in the fourth quarter from 13.92 percent in the previous quarter. The rate was forecast to rise to 14 percent. This was the lowest since 2008.

The number of people out of work decreased by 22,500 to 3.19 million in the fourth quarter. Compared to last year, unemployment fell 112,400.

At the same time, employment increased by 92,600 from the previous quarter to 19.96 million. On a yearly basis, employment rose 402,300.

Job creation increased by 83,000 in services and by 47,600 in the agriculture sector. Employment grew 14,000 in construction. Meanwhile, employment decreased 52,100 in industry.

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