Spain’s unemployment rate edged down in the third quarter driven by the improvement in the service sector, the statistical office INE said.
The unemployment rate unexpectedly dropped to 11.21 percent in the third quarter from 11.27 percent in the second quarter. Economists had forecast the rate to climb to 11.4 percent.
Unemployment fell by 1,200 from a quarter ago to 2.75 million. From the last year, employment decreased by 140,400.
Overall employment increased by 138,300 from the previous quarter to 21.8 million. Compared to last year, employment rose 376,600.
By sector, employment increased by 152,700 in services and by 23,400 in industry. Employment in construction rose only by 500, while it decreased 38,300 in agriculture.
Source: RTT NEWS
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