Spain Jobless Rate Lowest in Near 10 Years

The unemployment rate in Spain fell to 15.28 percent in the second quarter of 2018 from 16.7 percent in the previous period and below market expectations of 15.8 percent. It is the lowest jobless rate since the last three months of 2018. Among regions, the highest rates were recorded in Ceuta (29.5 percent), Melilla (28 percent), Estremadura (23.9 percent) and Andalusia (23.1 percent) and the lowest in Navarra (9.9 percent) and Aragon (9.9 percent). In Catalonia, unemployment rate was 11.4 percent and in Madrid 12.1 percent.

The number of unemployed people fell by 306,000 to 3.490 million, with the highest declines seen in Andalusia (-65,400), Madrid (-45,900) and Valencia (32,600). By age, most declines were seen for those aged 25-54 (-271,600) and those with more than 55 (-41,800). On the other hand, unemployment among people aged 16-24 went up by 7,400. 

Employment increased by 469,900 thousand to 19.344 million, the biggest quarterly gain ever in employment. Job gains were seen in services (+371,400), construction (+63,400) and industry (+46,400) while the agricultural sector lost 11,300 jobs. Employment in the private sector went up by 457,800 to 16.226 million and the public one by 12,100 to 3.117 million. Among regions, Illes Balears (+85,400), Andalusia (+64,700) and Catalonia (+57,200) added the most jobs. 

The number of active people rose by 163,900 thousand to 22.834 million.

Spain Jobless Rate Lowest in Near 10 Years

INE | Joana Taborda |
7/26/2018 7:43:33 AM