unemployment in Spain

Spanish economy 2nd February 2024

Number of unemployed in Spain increases by 60,404 people in January

Bankinter: The number of unemployed increased in January by 60,404 people, after falling in the last two months of last year (by 24,570 Nov-23 and 27,375 in Dec-23). The total number of unemployed stands at 2.77m people (up 2.2% month-on-month; down 4.8% year-on-year) and seasonally adjusted Social Security enrolment stands at 20.88m people (up 38.5 thousand in the month). Assessment: Employment figures increase in January, slightly above the average of…

Spanish economy 29th January 2024

Unemployment falls by 24,600 and employment by 19,000 in 4Q23

The National Statistics Institute (INE) published on Friday that according to the Labour Force Survey (Encuesta de Población Activa, EPA), the number of unemployed people decreased in 4Q2023 by 24,600 people compared to 3Q2023, to 2.831 million unemployed, while the number of employed people decreased by 19,000, to 21.247 million. Thus, Spain’s unemployment rate fell to 11.76% from 11.84% in 3Q2023, bringing the rate below the 11.9% expected by FactSet’s…

In Spain 16th January 2024

Out-of-work seasonal “fixed discontinuous” workers – not listed as unemployed – up 20% to almost 750,000

Registered unemployment fell by 27,375 in December to a total of 2.7 million, the lowest figure since 2007. But the question on many people’s minds is: what would have happened if this figure had not excluded the out-of-work seasonal “fixed discontinuous” workers who register with a public employment service? They are not classified as unemployed, but as job seekers with an employment relationship, a category that in the last month…

Spanish economy 4th January 2024

Spain’s tangled unemployment figures: 2.7 million people or 3.2 million?

According to data provided by the Ministry of Labour, the number of unemployed people registered in the offices of the State Public Employment Service (SEPE) fell in December by 27,375 people (-1%). In year-on-year terms, unemployment fell in December by 130,197 people (-4.59%), to 2,707,456 people, the lowest figure for this month since 2007. These figures, however, should be qualified. According to the USO trade union, the tangle of data…

Spanish economy 5th December 2023

Unemployment, employment and propaganda: 562,466 permanent contracts signed in November, reducing unemployment by 24,573

One of the biggest problems in understanding the employment and unemployment figures in Spain is that the new definitions and classifications used by the Ministry of Labour hide very different realities from those they preach. Thus, as the trade union USO explains “In November, 1,356,293 contracts were signed. Over the whole of 2023, more than 14 million. Of these, 41.47% were signed as permanent contracts in November, nearly 600,000, for…

Spain has highest proportion of contracts of 6 months or less

In Spain 5th December 2023

Unemployment, employment and propaganda: November unemployment up 90,000 – not down 24,500 – counting 114,000 “fixed discontinuous workers who stopped working”

Unemployment fell in Spain by 24,573 people in November, in what has been the second largest fall in unemployment for this month excluding the pandemic, but this evolution is distorted because, after the labour reform, all workers with fixed discontinuous contracts who go into inactivity and even begin to collect a benefit, are not counted as unemployed. As the newspaper El Mundo explains, in November, a total of 114,000 people…

In Spain, Spanish economy 4th December 2023

Unemployment falls by 24,573 in November after three consecutive months of rises thanks to services sector

Bankinter| The number of unemployed fell by 24,573 in November (after 36,936 in October). This increase was mainly due to the services sector, which accounted for a large part of the fall in unemployment. With these figures, the total number of unemployed stood at 2,734,831 people (down 0.9% monthly and 5.1% year-on-year), its lowest figure for a month of November since 2007. For its part, Social Security lost an average…

Spanish economy 26th October 2023

Spain’s unemployment rate deteriorates in 3Q2023 to 11.84% from 11.60% in previous quarter

Bankinter| The unemployment rate deteriorated in 3Q2023 to 11.84% from 11.60% previously and vs. 11.45% expected. The number of unemployed rose to 2.85m (vs. 2.76m at June 2023). The Activity Rate increased to 59.41% (vs. 58.57% previously). See full information in this link. Assessment: We believe that the expected slowdown in economic growth in the second half of the year will be reflected in a certain deterioration of the Unemployment…

Relevant News Item 3rd October 2023

Unemployment up 19,768 in September after tourist season ends, while Social Security adds 18,295 new affiliates

Unemployment registered in the offices of the public employment services rose by 19,768 people in September compared with the previous month (+0.7%), driven above all by the services sector, which accounted for a large part of the increase in unemployment due to the end of the tourist season. With September’s rise, this makes it two consecutive months of increases in Unemployment. September ended with 2,722,468 people in a situation of…

Spanish economy 4th September 2023

Over 300,000 workers exit Social Security system on August 31

Bankinter : The number of unemployed increased in August by +24,826 persons (after -10,968 in July). It stands at 2.7M persons (-0.9% m/m and -7.6% YoY). The seasonally-adjusted number of registered registered persons increases to 20.7M (+0.1% m/m and +2.8% year-on-year). Ministry of Labour and Social Economy and Ministry of Social Inclusion and Migration. For the trade union USO, the figures are not good, because “On 31 August, more than…

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