The latest economic data from Spain’s government agency, the Instituto Nacional de Estadística, shows employment in the country has improved.
Spain’s unemployment rate fell to 11.76% in the fourth quarter of 2023, down from 11.84% in the previous quarter, according to the Spanish National Statistics Institute (INE).
The INE also said that the country added 783,000 new jobs in 2023.
“The job market data for 2023 show the strength and resilience of the Spanish economy’s recovery,” Economy Minister, Carlos Cuerpo, said.
By gender, employment decreased by 64,000 for men and increased by 45,000 for women. In terms of nationality, it declined by 44,000 among Spanish people, including those with dual nationality, and rose by 25,000 among foreigners.
The latest figures for the Eurozone, which comprises the European Union states that have adopted the euro as their national currency, reveal that the unemployment rate fell to 6.4% in November 2023, down from 6.5% in the previous month and 6.7% the previous year.
In recent quarters, Spain has experienced stronger GDP growth compared to other major European economies. The government anticipates robust growth of 2.4% for the year 2023.
Spanish GDP data for the fourth quarter will be released next Tuesday.
