Financial News: Spain Jobless Rate Lowest Since 2008

Spain Jobless Rate Lowest Since 2008

07/26/2024 - 09:13:00 (RTTNews)

(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the second quarter as tourism boosted job creation, data from the statistical office INE revealed Friday.

The jobless rate fell to 11.27 percent in the second quarter from 12.29 percent in the first quarter. This was the lowest rate since the third quarter of 2008. Economists had forecast the rate to fall to 11.4 percent in the second quarter.

The number of employed decreased to 21.68 million in the second quarter. Compared to the previous year, employment rose by 426,300.

Faster economic growth helped the nation to create more jobs. The statistical office is scheduled to publish the second quarter GDP data on July 30.

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