Financial News: Spain Unemployment Rises Unexpectedly

Spain Unemployment Rises Unexpectedly

09/03/2024 - 03:40:00 (RTTNews)

(RTTNews) - Spain's unemployment increased unexpectedly in August, data from the labor ministry revealed on Tuesday.

The number of people out of work increased by 21,884 in August from the previous month, data showed. The figure was forecast to fall by 6,300. In the same period last year, unemployment rose by 24,826.

Despite the increase, the total number of unemployed was 2.57 million, the lowest for the month of August since 2008.

Among major sectors, unemployment increased the most in services, up 20,189 from July. In construction and industries, unemployment rose 4,187 and 2,995, respectively. Meanwhile, unemployment decreased by 2,337 in the farm sector.

Moreover, the number of unemployed decreased by 130,579 over the last twelve months. Unemployment among young people has been falling for 40 consecutive months, the ministry said.

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