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  HOME | Business & Economy (Click here for more)

Spainís Unemployment Tumbles in 2017, Lowest Figure since Economic Crisis

MADRID Ė The number of unemployed people in Spain dropped in 2017 to its lowest level since an economic crisis that crippled the country began a decade ago, the National Statistics Institute said in a year-on-year report Thursday.

According to the data provided by the governmentís statistics offices, the number of Spainís jobless fell by 471,000 compared to the previous year, bringing the current unemployment level to 16.55 percent in a downward trend boosted by the creation of 490,000 jobs, most notably in the service sector, industry, construction and agriculture.

Some 3.76 million people were unemployed at the end of 2017, marking a continued downward trend in the Mediterranean nation where, at the height of the crisis in 2012, some 6 million people, or roughly 26 percent of eligible workers, were registered as out of work.

Spain, one of the countries hit hardest by the 2008 global financial crisis, has the second-highest unemployment rate in the European Union, behind Greece, but the latest figures mark a substantial drop towards pre-crisis levels.

 

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