Financial News: Spain Unemployment Rises Less Than Forecast

Spain Unemployment Rises Less Than Forecast

02/04/2025 - 04:29:00 (RTTNews)

(RTTNews) - Spain's unemployment increased less than expected in January and also hit the lowest level for the month in 17 years as the economy continued to exhibit robust growth, official data showed on Tuesday.

The number of people out of work increased 38,725 in January from the previous month, the labor ministry said. Unemployment was expected to climb 45,400.

Compared to January 2024, unemployment decreased by 168,417 or 6.08 percent.

Data showed that registered unemployment totaled 2.599 million, which was the lowest figure for January in the last 17 years.

Further, data showed that registered unemployment decreased in the construction sector by 4,527 people and fell 241 in industry. Offsetting these declines, unemployment in services surged 44,595 and by 1,099 in agriculture.

Unemployment among young people aged below 25 years rose by 2,563 people in January compared to the previous month and totaled 188,364. This was the lowest figure in the historical series for a month of January.

Last month, data from the statistical office INE revealed that the <a href=https://www.rttnews.com/3506402/spain-jobless-rate-lowest-since-2008.aspx target=_blank >unemployment rate</a> fell to the lowest level since the second quarter of 2008. The jobless rate came in at 10.61 percent in the fourth quarter of 2024, down from 11.21 percent in the third quarter.

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