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FX.co ★ Spain Unemployment Logs Unexpected Increase

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typeContent_19130:::2023-10-03T10:44:00

Spain Unemployment Logs Unexpected Increase

Spain's unemployment registered an unexpected increase in September due to the weakness in the service sector, data from the labor ministry showed on Tuesday.

The number of registered unemployed people increased 19,768 or 0.73 percent from the previous month. Economists had expected a monthly fall of 12,200 for September. Unemployment totaled 2.72 million in September.

However, unemployment decreased by 219,451 from the previous year.

Registered unemployment declined in all economic sectors except services, where jobless claims surged by 18,820. Unemployment slid 3,718 in construction and by 2,100 in agriculture. The decrease in industry was 184.

Further, data showed that unemployment among people aged below 25 years rose by 17,043 in August compared to the previous month. Youth unemployment totaled 205,000, the lowest figure in the last fifteen years.

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