Spain Unemployment Rate Falls To 7-Year Low Of 18.63%


The unemployment rate in Spain fell to 18.63 percent in the fourth quarter of 2016 from 18.91 percent in the previous period and better than market expectations of 18.7 percent. It was the lowest jobless rate since the third quarter of 2009, as the number of unemployed fell by 1.9 percent to 4.24 million. Still, Spain has the second highest unemployment rate in the EU after Greece.

The number of unemployed persons declined 1.9 percent to 4.24 million with the biggest decreases recorded in Comunitat Valenciana (-23.1 thousand persons), Madrid (-18.3 thousand persons) and Asturias (-13.7 thousand persons).

The number of employed persons decreased 0.1 percent to 18.51 million. Employment decreased in both public (-17.8 thousand) and in private sector (-1.6 thousand).  By regions, employment rose the most in Comunitat Valenciana (+32.6 thousand), Madrid (+27.8 thousand) and Castilla-La Mancha (+13.7 thousand)

By sector, jobs were created in agriculture (+72.9 thousand) and industry (+47.8 thousand) while employment fell in services (-112.3 thousand) and construction (-27.8 thousand).

Temporary job contracts decreased by 79.4 thousand while permament contracts rose 60.2 thousand.

The number of detached from the labour force increased 0.9 percent to 15.839 million persons.
A year earlier, the jobless rate was higher at 20.9 percent. 

Spain Unemployment Rate Falls To 7-Year Low Of 18.63%


INE |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
1/26/2017 12:04:47 PM