Spanish Unemployment Falls to Lowest in Almost 15 Years

Spain’s jobless rate fell to 11.6% in the second quarter after dropping by the fastest pace in more than two decades. The marked improvement underscores the resilience of the euro zone’s fourth-biggest economy against the backdrop of political turmoil that led to a snap election this month where Prime Minister Pedro Sanchez lost ground but denied his right-wing opponents a majority in Parliament. Unemployment is now at the lowest in almost 15 years, with the number of people employed reaching a new record of more than 21 million.