Spain: Unemployment rate fell to 18-year low in Q4
Latest reading: The unemployment rate fell to 9.9% in Q4 from 10.5% in Q3. The market had expected a slight increase, and the reading was the lowest in 18 years. Meanwhile, the number of employed people rose by 76,200 to reach a new record of 22.5 million.
The number of unemployed fell by 136,100 people from Q3, while the number of people in the labor force fell by 59,900 to a total of 24.9 million.
Panelist insight: EIU analysts said:
“Unemployment remains comparatively high, but reforms that came into effect in 2022 have boosted employment and could help to reduce the widespread use of temporary job contracts and the risk of longer-term scarring from the pandemic.”