Spanish Unemployment Rate Down to 2-Year Low


Spanish jobless rate fell to 24.47 percent in the three months to June, from 25.93 percent in the previous period. It is the lowest rate since the second quarter of 2012, due to strong job creation in the services sector.

In the second quarter of 2014, the number of unemployed persons fell 5.23 percent on quarter to 5.623 million. Year-on-year, unemployment went down 7.02 percent (-424,500 persons).

Employment rose 2.37 percent over the previous period to 17.35 million, the highest increase since the second quarter of 2005. Compared with a year earlier, employment grew for the first time in six years by 1.12 percent (+192,400 persons).

Employment rose for both private and public sectors (+393,500 and +8,900, respectively). The services sector added 378.7 thousand new jobs; the industrial sector created more 56.7 thousand jobs and construction added 36.9 thousand. In contrast, agriculture lost 69.8 thousand jobs.  

By region, employment increased in Illes Balears (+83,300 persons), Catalonia (+79,300), Valencia (52,800) and Community Madrid (52,400), from the previous quarter. In contrast, the top decreases were in Catalonia (69,700 less), Comunidad de Madrid (45,200) and Valencia (42,300).

Spanish Unemployment Rate Down to 2-Year Low


National Statistics Institute| Isabel Felino | isabel.felino@tradingeconomics.com
7/24/2014 11:15:54 AM