Spain Unemployment Rate at Near 7-Year Low of 18.91%

The unemployment rate in Spain declined to 18.91 percent in the third quarter of 2016 from 20 percent in the previous three months. Figures came better than market expectations of 19.3 percent, reaching the lowest since the last quarter of 2009 when unemployment was recorded at 18.66 percent. Yet, tourist arrivals hit a record high during the Summer season this year, boosting job hiring mainly in the services sector. However, Spain still has second highest unemployment rate in the European Union after Greece.

The number of unemployed persons decreased 5.55 percent to 4.32 million. Biggest decreases were recorded in Cataluña (-51.1 thousand), Madrid (-41.8 thousand) and Comunitat Valenciana (-29.2 thousand). 

The number of employed persons rose 1.24 percent to 18.52 million. Employment increased in both public (+8.9 thousand) and private (+217.7 thousand) sectors, mainly for those with a temporary job contract (+245.9 thousand) while it fell for those with a permanent contract (-29.1 thousand). Among sector, biggest job gains occured in services (+178.7 thousand), industry (+34.2 thousand) and construction (+29.9 thousand) while agriculture shed 16.3 thousand jobs. Among regions, employment rose the most in Cataluña (+42.7 thousand) but fell in Murcia (-5.6 thousand). 

The number of people detached from the labour force increased 0.42 percent to 15.695 million. 

A year earlier, the jobless rate was higher at 21.18 percent. 

Spain Unemployment Rate at Near 7-Year Low of 18.91%

INE | Joana Taborda |
10/27/2016 7:40:12 AM