Unemployment falls in Spain

According to the latest figures published by the Spanish National Institute of Statistics (INE) unemployment in Spain has fallen in the third quarter of this year which is the first fall in the unemployment rate since the beginning of the recession. Figures published by the INE show that unemployment fell from 20.09% at the end of June to 19.76% at the end of the third quarter of this year following three years of continual rises.

The total number of people now in employment has risen to 18,546,800 and 69,900 new jobs have been created. The report compiled by the INE found that the fall in unemployment is largely down to the creation of jobs in the service sector. In fact unemployment has fallen by a total of 70,800 with employment rising most among those aged between 25 years old and 44years old.

The total number of unemployed is now 4,574,700 which is the best figure since the end of 2009. The latest figures are significant because they show the first fall in unemployment in Spain since the economy fell into recession.