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Spain's Q3 unemployment rate edges down to 26 per cent

MADRID – Spain’s National Statistics Institute says the country’s jobless rate edged down from 26.3 per cent to 26.0 per cent during the third quarter, a day after the Bank of Spain indicated that the recession was over.

The institute said Thursday the number of people out of work dropped by 72,800 July through September, leaving the total number of people unemployed at a rounded 5.9 million.

Unemployment often edges down during the busy months of the summer, when tourism is at its height.

On Wednesday, the Bank of Spain estimated that the country’s economy grew by a quarterly rate of 0.1 per cent in the third quarter, which if confirmed means Spain has emerged from a recession that’s lasted over two years.

The government claims its austerity measures and economic reforms are paying off.