Spain: Unemployment rate inches down to its lowest in 11 years in Q4 2019
The jobless rate inched down from 13.9% in the third quarter to 13.8% in the final quarter of 2019, the lowest reading since Q4 2008. In absolute terms, the number of unemployed workers stood at 3.19 million, slightly below the 3.21 million jobless recorded in the previous quarter.
Employment gains were centered in the services sector by adding 83,000 jobs, in large part due to the holiday season. Jobs were also created in the agricultural (+47,600) and construction (+14,000) sectors. However, jobs were shed in the industrial sector (-52,100). Notably, temporary jobs were down 78,600 in Q4, contrasting the 134,700 permanent positions created. Meanwhile, the total workforce rose by 70,100 people in Q4 to a total of 23.2 million.