Spanish unemployment figures experience their biggest ever annual fall but unemployment remains at over 20%.
The National Statistics Institute said the number of unemployed Spaniards fell by 12.4% to 4.78 million last year thanks to a strengthening economy.
In the fourth quarter the rate dropped to 20.9% of the workforce, compared with 21.2% three months earlier.
The figures, which are better than predicted, are at their lowest level since mid-2011.
The economic recovery pushed the number of unemployed people down by 678,200 for the whole year.
But there is concern that much of the growth depends on short-term jobs
The data showed almost twice as many temporary posts were created in 2015 than permanent ones.
Vincenzo Scarpetta, a political analyst at Open Europe in London, said: “If the economic cycle starts going less well, those jobs could start to evaporate.”
Economists fear that the inconclusive election, that has yet to result in a government, could delay much needed reform of the labour market.
Spain has suffered a double-dip recession which pushed unemployment to just under 27% at the end of 2013.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.