Spain revises down jobless rate to 25.73%

24th April 2014, Comments 0 comments

Spain trimmed its official unemployment rate to 25.73 percent for the final quarter of 2013 on Thursday, citing updated population figures.

It had previously estimated the jobless rate at 26.03 percent.

Jobless rates since 2002 were revised to take account of census data for 2011 instead of 2001, the National Statistics Institute said.

The new figures showed that Spain's unemployment rate fell to a record low of 7.93 percent in the second quarter of 2007, towards the end of a decade-long property bubble.

But a 2008 real estate crash sent the jobless rate soaring to reach an unprecedented 26.94 percent in the first quarter of 2013 before easing just a little by the end of the year, the latest data show.


© 2014 AFP

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