Spain’s unemployment rate declines in fourth quarter

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Spain

dpa/GNA – Spain’s unemployment rate dropped to a near three-year low in the fourth quarter, the statistical office INE showed on Thursday.

The unemployment rate dropped to 16.13 per cent in the fourth quarter from 16.26 per cent in the third quarter. The rate was forecast to rise to 16.6 per cent.

This was the highest since the first quarter of 2018, when the rate was 16.74 per cent. The number of unemployed decreased 3,100 to 3.72 million in the fourth quarter.

At the same time, employment increased by 167,400 sequentially to 19.34 million in the fourth quarter.

Employment increased in all sectors in the fourth quarter. In services, job creation rose 79,600 and by 51,000 in agriculture. Employment grew by 30,900 in construction and by 5,900 in industry.

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