Spain: Spain sees lowest unemployment rate in nearly six years in Q2
August 4, 2016
The unemployment rate in Q2 edged down from Q1’s 21.0% to 20.0%. The unemployment rate has not been this low since Q3 2010. In absolute terms, the number of unemployed totaled 4.58 million people in Q2, which was below the 4.79 million recorded in the previous period.
The largest increase in employment was recorded in the service sector, which added 227,300 jobs. Moreover, employment also improved in the construction sector (+45,600 jobs) and in industry (+15,700 jobs). The country’s workforce increased by 54,700 people in Q2 to 22.8 million. The print contrasted Q1’s figure, when the workforce dropped by 52,700 people. Despite the improvement, unemployment remains among the highest in the Eurozone.
Author: Dirina Mançellari, Senior Economist