Spanish Unemployment Rate Falls More Than Expected in Q2

The jobless rate in Spain decreased to 22.37 percent in the second quarter of 2015 from 23.78 percent in the previous period as employment grew the most since the second quarter of 2005 and unemployment fell sharply.

Quarter-on-quarter, employment went up by 411,800 persons to 17.87 million persons from 17.45 million persons in the previous quarter, as private employment increased by 412,200 while public employment was flat. Among sectors, services (+291,700), industry (+64,800), construction (+32,300) and agriculture (+23,000) added jobs to the economy. By region, the largest increases in the quarter were reported in Andalucía (+124,700 more), Illes Balears (+69,900) and Catalonia (+51,800). While in Basque Country (-5,700) and Asturias (-3,300) employment fell.

Unemployment decreased by 295,600 persons to 5.15 million persons in the three months to June from 5.44 million persons in the previous period. Andalucia recorded the highest decrease (-98,700 persons), followed by Catalonia (-31,900 persons) and Comunitat Valenciana (-30,400 persons) while in Asturias unemployment rose by 5,800 people.

The number of active population went up by 116,100 persons to 23.02 million persons and the labor force participation rate increased by 0.33 percent to 59.79 percent.

A year earlier, the unemployment rate was recorded at 24.47 percent.

Spanish Unemployment Rate Falls More Than Expected in Q2

7/23/2015 12:59:42 PM