Spain: Unemployment rate drops to lowest level since Q2 2008 in Q4
Latest reading: The unemployment rate fell to 10.6% in Q4 from 11.2% in Q3. Q4’s print surprised market expectations on the downside and marked the lowest reading since Q2 2008. The number of employed people rose by 34,800 relative to Q3, with job gains recorded in the agricultural, construction, industrial and services sectors.
Meanwhile, the number of unemployed decreased by 158,600 people from Q3, though the number of people in the labor force fell by 123,800 to a total of 24.5 million.