(MENAFN) Spain's unemployment rate registered a decline in 2014 for the second consecutive year, falling to reach 23.7 percent, though it still remains at being one of the highest levels in the European Union, The Peninsula Qatar reported.
The decline in the unemployment rate has beaten the government's expectations, which forecasted that the country's jobless rate would be at 24.2 percent by the end of 2014.
Spain, which technically exited recession in mid-2013 after five years of economic turbulence due to the collapse of a property bubble in 2008 that resulted in throwing millions of people out of work, said that it expects that the country's economy will have expanded by 1.4 percent in 2014 and
The government added that it expects that the economy will grow by 2.0 percent in 2015, which if held true then the country's economy will grow at a faster pace than is expected in France, Germany and Italy, while its unemployment rate will ease to 22.2 percent at the end of 2015.
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