Wednesday. 17.04.2024

 Spain's unemployment rate declined in the fourth quarter, hitting its lowest rate since 2008 as the economy continued to recover, the statistical office INE said on Thursday.

The jobless rate fell to 13.33 per cent, from 14.57 per cent in the third quarter. The rate was the lowest since the third quarter of 2008, when it stood at 11.23 per cent.

The rate had been forecast to drop moderately to 14.2 per cent.

The number of unemployed decreased by 312,900 to 3.103 million in the fourth quarter. Employment increased by 78,700 in agriculture and by 45,900 in services.

In industry, job creation rose by 37,100. Meanwhile, employment in construction declined by 7,700.

Spanish joblessness rate declines to lowest level since 2008