Financial News: Spain Jobless Rate Lowest Since 2008

Spain Jobless Rate Lowest Since 2008

01/28/2025 - 05:36:00 (RTTNews)

(RTTNews) - Spain's unemployment rate declined to the lowest level since the second quarter of 2008 as the economy remains on a faster growth trajectory, figures from the statistical office INE revealed on Tuesday.

The jobless rate came in at 10.61 percent in the fourth quarter of 2024, down from 11.21 percent seen in the third quarter.

The latest figure was the lowest since the second quarter of 2008, when it stood at 10.36 percent. The unemployment rate had peaked at 26.94 percent in the first quarter of 2013.

The number of people out of work declined 158,600 to 2.59 million in the fourth quarter.

Employment increased by 34,800 sequentially in the fourth quarter, in contrast to a decline of 56,700 in the same period last year.

Data showed that employment surged by 24,000 in services and by 7,000 in industry. Employment in agriculture rose 3,200 and grew slightly by 600 in construction.

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