FX.co ★ Spain Unemployment Rises Slightly In September

Spain's unemployment rate saw its smallest monthly rise since 2007, excluding periods impacted by the pandemic, the labor ministry announced on Wednesday.

In September, the number of unemployed individuals increased by 3,164, representing a 0.12 percent rise from the previous month. However, when adjusted for seasonal variations, unemployment actually decreased by 22,729.

The total number of unemployed individuals stood at 2.57 million, marking the lowest figure for the month of September in 17 years.

The construction sector experienced the most significant decline in unemployment, with a decrease of 4,856, while the agriculture sector saw a reduction of 1,515. Unemployment in the industry sector decreased by 1,365. Conversely, the services sector saw an increase in unemployment, up by 4,351.

Notably, unemployment among youth under the age of 25 rose by 15,027, or 8.48 percent, in September, totaling 192,139 individuals. Despite this increase, this figure remains the lowest for September in the historical series.