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Spain’s Unemployment Rate Falls to More Than Six-Year Low

  • Surge in services jobs pushed the jobless rate to 18.9%
  • Acting Prime Minister Rajoy may form a government this week
Updated on

Spanish unemployment fell to the lowest in more than six years, led by a surge in services jobs as Acting Prime Minister Mariano Rajoy moves closer to forming a government after a 10-month political deadlock.

The jobless rate dropped to 18.9 percent in the three months through September, the National Statistics Institute said in Madrid Thursday. That’s down from 20 percent in the second quarter and compares with a Bloomberg survey of economists predicting a decline to 19.3 percent for the quarter. The number of Spaniards out of work fell to 4.3 million total for the quarter compared to a crisis record of 6 million in 2013.