Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Spain's unemployment rate falls to 15-year low of 11.60% in Q2

Published 27/07/2023, 09:03
Updated 27/07/2023, 09:08
© Reuters. FILE PHOTO-A delivery worker pushes a cart with boxes of water in Ronda, southern Spain, January 3, 2023. REUTERS/Jon Nazca/File Photo

MADRID (Reuters) - Spain's unemployment rate fell to 11.60%, a 15-year low, down from 13.26% three months earlier, data from the National Statistics Institute (INE) showed on Thursday.

The unemployment rate had not been that low in Spain since the third quarter of 2008, when it was 11.23%, INE said.

The number of people employed in the period rose to an all-time record of 21.1 million, following an increase of 603,900 from the first quarter.

Economists polled by Reuters had forecast Spain's unemployment rate would fall to 13%. The rate was 12.48% in the second quarter of 2022.

The second quarter is traditionally good for unemployment because seasonal sectors such as agriculture and tourism tend to hire more people after the winter.

The fall in unemployment in the second quarter this year affected all sectors, particularly services and construction.

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.