Spain Jobless Rate Falls to 10-Year Low

The unemployment rate in Spain fell to 14.45 percent in the last quarter of 2018 from 14.55 in the previous period and slightly below market expectations of 14.5 percent. It remained the lowest jobless rate since the fourth quarter of 2008. Among regions, the lowest rates were recorded in País Vasco (9.6 percent), Cantabria (9.7 percent) and Comunidad Foral de Navarra (10 percent) and the highest in Extremadura (23.1 percent), Andalucía (21.3 percent) and Canarias (20 percent). In Catalonia, jobless rate was 11.8 percent and in Madrid 11.5 percent.

The number of unemployed people dropped by 21,700 to 3.304 million, with the highest decreases seen in Andalucía (-63,900), Comunitat Valenciana (-27,800) and Comunidad de Madrid (-6,300). By age, most declines were seen for those aged 16-19 (-17,600); those aged 20-24 (-8,200) and those aged 25-54 (-30,300). On the other hand, unemployment among people aged with more than 55 went up by 34,400. 

Employment increased by 36,600 thousand to 19.565 million. Job gains were registered in agriculture (+57,200), construction (+39,800) while the service (-43,000) and industry sector (-17,400) lost jobs. Employment in the public sector rose by 43,400 to 3.211 million while in the private dropped by 6,900 million to 16.354 million. Among regions, Andalucía (+57,500), Comunidad de Madrid (43,900) and Castilla – La Mancha (+12,400) added the most jobs.

The number of active people advanced by 14,900 thousand to 22.869 million.

Spain Jobless Rate Falls to 10-Year Low

INE | Stefanie Moya |
1/29/2019 8:31:15 AM