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.

The 2008 financial crisis hit Spain hard, especially its real estate sector, which had been fueling growth. In 2007, the country’s unemployment rate hit its lowest level of the century, at 8.01%. To address the crisis, the EU began requiring austerity measures, which further exacerbated Spain’s unemployment rate.

The Spanish Economy Ministry is set on Tuesday to raise its gross domestic product growth target for this year above the current 2.4 per cent, Economy

Spain's unemployment rate fell to 10.61% in the fourth quarter of 2024, lowest since second quarter of 2008, from 11.2% three months earlier, data from the National Statistics Institute showed on Tuesday.

SPAIN'S unemployment rate fell to its lowest figure since 2008 according to fourth-quarter details from last year. The Statistics Institute(INE)

Spanish unemployment fell last year to its lowest level since the 2008 global financial crisis as the tourism-driven service sector performed strongly, official data showed on Tuesday.