Finance
Spain's unemployment rate falls to lowest since 2008
Published by Global Banking & Finance Review®
Posted on January 28, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 28, 2025
1 min readLast updated: January 27, 2026
Spain's unemployment rate fell to 10.61%, the lowest since 2008, with significant job growth in the services sector. The Economy Ministry plans to raise GDP growth targets.
By Joao Manuel Vicente Mauricio
(Reuters) -Spain's unemployment rate in the fourth quarter fell to its lowest in more than 16 years, data from the National Statistics Institute showed on Tuesday, as the economy outperforms its neighbours.
The unemployment rate fell to 10.61%, down from 11.21% in the previous quarter and the lowest level since the second quarter of 2008, when it stood at 10.36%, said INE.
Economists polled by Reuters had forecast Spain's unemployment rate would fall to 11.10%.
Spain added 468,000 net jobs in the year. More than 90% of these were in services, INE said, as the tourism industry boomed.
The Economy Ministry is set on Tuesday to raise its gross domestic product growth target for this year above 2.5%, Economy Minister Carlos Cuerpo said on Monday, in stark contrast with weak growth in other large euro zone economies. France and Germany have recently lowered their growth forecasts.
(Reporting by Joao Manuel Mauricio in Gdansk, editing by Inti Landauro)
The article discusses Spain's unemployment rate dropping to its lowest level since 2008 and the country's economic performance.
Spain added 468,000 net jobs, with over 90% in the services sector.
The Economy Ministry plans to raise the GDP growth target above 2.5%.
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