Spain’s unemployment rate fell last year to its lowest level since the 2008 global financial crisis as the tourism-focused service sector performed strongly, official data showed on Tuesday.
The unemployment rate in the European Union’s fourth-largest economy stood at 10.61 per cent at the end of 2024, down from 11.76 per cent the previous year, the National Statistics Institute said.
The economic recovery has added 468,100 jobs over the past 12 months, taking the total to 21.8 million, the highest on record.
A dynamic service sector has cut unemployment by 100,000 in 2024, when the world’s second most visited country welcomed a record 94 million tourists.
The key sector accounts for about 13 per cent of the economy, with growth rates well ahead of those in the EU, providing vital political capital for the minority left-wing government.
