Spain's unemployment rate reached its lowest point in nearly 16 years during the second quarter, driven by a surge in tourism-related job creation, according to data released by the statistical office INE on Friday.
The jobless rate declined to 11.27 percent in the second quarter, down from 12.29 percent in the first quarter. This marks the lowest unemployment rate since the third quarter of 2008. Economists had anticipated a decline to 11.4 percent for the period.
In the second quarter, the number of employed individuals decreased to 21.68 million. However, on a year-over-year basis, employment saw an increase of 426,300 jobs.
Robust economic growth has facilitated the creation of more jobs across the nation. The statistical office is set to release the second-quarter GDP data on July 30.
