The labor ministry released data on Monday that showed a significant drop in Spain's unemployment rates for February. Compared to January, unemployment figures fell by 7,452 to reach 2.76 million - the lowest it's been since 2008 for this month.
When compared to the same period the previous year, the unemployment rate dropped by 150,607.
A sector-based analysis of the data revealed that the services sector had seen the most significant reduction in unemployment, with a decrease of 8,548. This was followed by the construction industry, which saw a drop of 2,433. Industrial unemployment reduced by 1,865 and agricultural unemployment by 315.
However, unemployment among young people below 25 years of age spiked by 6,601 or 3.28% from the previous month.
