Spain Jobless Rate Falls to Nearly 6-Year Low in Q2


Spain's unemployment rate fell to 20 percent in the three months to June of 2016 from 21 percent in the previous period, beating market expectations of 20.4 percent. It was the lowest reading since the third quarter of 2010, aided by jobs in services and tourism. Still, Spain has the second highest unemployment rate in the EU after Greece.

Summer jobs in tourism and hostelry traditionally boost figures in the second quarter.

Employment increased by 271,400 persons on the quarter to 18.30 million persons, as private employment rose by 294,600 while public sector shed 23,200 jobs. Among sectors, jobs in services (+227,300 persons), construction (+45,600) and industry (+15,700) went up while employment in agriculture fell (-17,200). By region, the largest increases in the quarter were reported in Balearic Islands (+56,000 persons), Catalonia (+53,700) and Murcia (+28,400).

Unemployment declined by 216,700 persons to 4.57 million persons in the three months to June 2016. Unemployment decreased in the services (-109,500 persons), construction (-28,900), agriculture (-7,500) and industry (-3,800) sectors. The largest decreases occurred in Catalonia (-56,400 persons), Balearic Islands (-28,900) and Andalusia (-28,100).

The number of active population went up 54,600 persons to 22.876 million persons, as the number of active women grew 59,300 while the number of active men fell 4,600. The labor force participation rate increased to 59.41 percent.

A year earlier, the unemployment rate was recorded at 22.37 percent.

Still, Spain has the second highest unemployment rate in the EU after Greece.

Spain Jobless Rate Falls to Nearly 6-Year Low in Q2


INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/28/2016 11:02:06 AM