Spanish Unemployment Falls to Lowest in Almost Five Years
- Unemployment drops to 20.9% in fourth quarter, boosting Rajoy
- Jobless rate is slowly declining across the euro area
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Spanish unemployment fell to its lowest in almost five years, giving a boost to Acting Prime Minister Mariano Rajoy as he struggles to form a government following an inconclusive election.
The jobless rate dropped to 20.9 percent from 21.2 percent the previous quarter, the National Statistics Institute said in Madrid on Thursday. Economists had forecast the rate would be little changed, according to the median of nine estimates in a Bloomberg News survey.