Monday, 16 April 2018

Great News for the Spanish Economy; Unemployment Falls by 180,000

Great News for the Spanish Economy; Unemployment Falls by 180,000

Jobs continue to be created 
Over 182,000 jobs were created in Spain during the third quarter of last year between July 1st and September 30th, bringing down the percentage of unemployed people to 4.66% and bringing the total number of unemployed people to 3.73 million; the lowest figure since 2008.

The third quarter has always been the strongest time for job creation in the country as it includes the busy summer period where plenty of seasonal jobs are created. However, when viewed over a long period of time the trend becomes very encouraging; the third quarter has been a booster for Spanish employment figures for five years running now, and the performance last year follows a strong second quarter that saw Spanish total unemployment drop below four million for the first time since 2009.

The data comes from the Active Population Survey (EPA) published by the government. The EPA registers not just unemployed people that report to their local employment office, but also the jobless people that aren’t registered for whatever reason. This means that the figures in the EPA are higher than other sources.

Even so, the data shows that the unemployment rate for Spain has fallen to 16.38%, which is about 2.5% lower than last year and continues the positive trend of an increase in job security, growth and financial stability of households and businesses.