Nearly all of Spain’s 17 regions recorded a fall in unemployment levels in the third quarter (Q3) of the year.
The number of people unemployed in Spain dropped by 4.66% in Q3 to 3,731,700, according to the governments Active Population Survey (EPA).
During Q3, unemployment levels fell by over 17% in both the Balearics and Castilla-La Mancha, whilst year-on-year averages show a 31% and 26.9% decrease in Aragón and Asturias, respectively.
In Q2 2017, unemployment levels dipped below 4 million for the first time since 2009 and over the last twelve months has dropped by 13.6%, representing a total of 589,100 people who secured a job offer.
Unemployment now stands at 16.38%, according to the EPA survey – a figure still far higher than EU and Eurozone averages.
Unemployment levels have continued to fall thanks to the country’s economic growth; Spain, the Eurozones’ fourth-largest economy, is forecast to grow just above 3% this year despite uncertainties regarding the independence of Catalonia, Spanish Economy Minister Luis De Guindos said. However, growth projections for next year are currently being discussed and are likely to be slashed, this could have a negative impact on the jobs market.