Spanish Unemployment Falls to Nine Year Low

Spanish unemployment fell to a nine-year low in the third quarter, providing some good economic news for the government as it tries to get a grip on the political crisis in Catalonia.The rate declined to 16.4 percent from 17.2 percent in the previous three months, Spain’s Statistics Institute said Thursday.

That’s the best reading since the end of 2008 and beats the 16.6 percent median estimate in a Bloomberg survey.Breaking down the data, the number of people without a job fell by 182,600 people to 3.7 million. Hiring in services, industry and construction led employment growth for the quarter.

Source: Spain Joblessness Falls to Nine-Year Low Amid Catalan Crisis – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.