You are here

Spain Q3 unemployment rate at 18.9%, lowest in nearly seven years

Thursday, October 27, 2016 - 15:28

7-34386793 - 31_03_2015 - kveuro1.jpg
Spain's unemployment rate fell to 18.9 per cent in the third quarter, its lowest level since the fourth quarter of 2009, data from the National Statistics Institute (INE) showed on Thursday, down from 20 per cent in the previous quarter.

[MADRID] Spain's unemployment rate fell to 18.9 per cent in the third quarter, its lowest level since the fourth quarter of 2009, data from the National Statistics Institute (INE) showed on Thursday, down from 20 per cent in the previous quarter.

The jobless rate was lower than the 19.3 per cent expected by analysts polled by Reuters, following a bumper summer for hiring during a record season for tourist arrivals in Spain.

Despite a turnaround in the job market, Spain still has the second highest unemployment rate in the European Union after Greece, and its next government may have to tackle further measures to cement the recovery after a 10-month political deadlock.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom