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Spanish economy 29th October 2021

Spain Q3’21 Jobless Rate Improves To 14.57% Vs Previous 15.26%; Over 20 Million People In Work

Bankinter | Spain’s labour market is continuing on the road to recovery. The unemployment rate in Q3’21 improved to 14.57% from 15.26% in the previous one (and vs 14.10 expected). The Rate of Activity rose to 59.14% (+1,30 pp yr/yr), with the number of people in work exceeding 20 million. If we include the number of workers on an ERTE to September (239,000) and on freelance workers’ benefits (226,000), the…

Spanish economy 13th October 2021

The IMF Revises Downwards Its Global Growth Forecast …And It Forecasts The Highest Unemployment Rate In Europe For Spain In 2021 (15.4%) And 2022 (14.8%)

In its October World Economic Outlook report, the International Monetary Fund (IMF) has lowered its growth estimate for the world economy to 5.9% from 6.0% in its July estimate. For 2022, however, the IMF has kept its global growth projection unchanged at 4.9%. In its report, the IMF notes that while growth in advanced economies is largely expected to return to the pre-pandemic trend in 2022, it expects emerging and…

Temporary layoffs concentrate in activities mainly linked to trade and tourism

Spanish economy 4th October 2021

Spain’s Jobless Falls By 76,113 In September, A Record High For This Month, But How To Recover the 239,200 Still Furloughed?

With the drop in unemployment in September, the total number of job seekers reached 3,25 M at the end of the month. This figure would mean an unemployment rate of around 14.3%. Furthermore, temporary layoffs account for 239,200 workers, which means a decrease of 29,000 still included in these programmes compared to end-August. If we include this group added to self-employed with special benefits, unemployment stands at 3.7 M people, which means an implicit unemployment rate of around 16.3%.

Spanish economy 2nd September 2021

Spain: Unemployment Fell By 82,583 In August

The fall in unemployment, -2.4%, is the largest ever for the month of August, marking the sixth month of falling unemployment in Spain. In the last 6 months, unemployment in Spain has fallen by 675,000 people and, at the end of August, stands at 3,333,915 people. Nevertheless, Social Security lost an average of 118,004 contributors in August compared to July, bringing the total number of employed people to 19,473,724 contributors,…

Spanish economy 30th July 2021

Spain Creates 464,900 Jobs In Second Quarter 2021

The 2Q 2021 unemployment rate stood at 15.26% against 15.98% in the previous quarter, according to data released today by Spain’s National Statistics Institute. The activity rate improves to 58.6% quarter-on-quarter. On the other hand, the number of jobless people decreases to 3.5 M (-3% q/q), while the number of employed people increases by +464,900 to 19.7M (+2.4%).

Spanish economy 6th April 2021

Spain: 59,000 Fewer Unemployed in March

T.C. | The number of registered unemployed in Spain fell by 59,149 people in March (-1.5%), its largest decline in this month since 2015, according to data published on Tuesday by the Ministry of Labour. With this decline in unemployment, which puts an end to five consecutive months of increases, the total number of unemployed reached 3,949,640 at the end of March.

Relevant News Item 9th March 2021

Eurozone Loses More Than 3 M Jobs In Pandemic Year

The number of employed in the Eurozone in the fourth quarter of 2020 reached 157.9 million. This represents a loss of 3.1 million jobs compared to the same period in 2019, before the impact of the pandemic, the EU statistics office Eurostat has reported. In the European Union as a whole, the number of employed people in the fourth quarter of 2020 was 206 million, a figure 3.5 million lower than in the same quarter of 2019.

Forty years of democratic Spain: Haves and have-nots of labour market

Spanish economy 2nd March 2021

Spanish Labour Market: Sharp Increase In Furloughs in February Brings The Total To Almost 900,000

Randstad Research | Unemployment in Spain increased by 44,436 people in the month of February compared to January thus raising the number of jobless people to 4,008,789, a barrier not surpassed since April 2016, reflecting the restrictions impossed to deal with the third wave of the pandemic. Similarly, ther was an increases of 160,000 people in the number of furloughed employees, bringing the total to 899,383.

Spanish economy 21st January 2021

Spanish Labour Market 2020: The Year Of Massive Destruction In Employment

Bankia Estudios | Last year ended with the loss of more than 100,000 Spanish companies, a fall of 360,105 Social Security affiliates – the first decline in seven years – and an increase of 724,532 unemployed. It must be added 755,613 workers under temporary lay-offs programs and 349,342 self-employed receiving extraordinary unemployment benefits; in other words, more than 1.1 million people who, although technically still considered employed, are not actually working or are working reduced hours.

Spanish economy 2nd October 2020

Spain’s Jobless People Cut By 26,329 In September, Record Drop Since 1996; Rate Doubles The Eurozone’s

The labor market in Spain added 84,013 affiliates in September, the largest increase for this month in the series, while the jobless people fell by 26,329, also an historic high for the ninth month of the year, reported the Ministry of Labor today. With this figures the total number of unemployed reached 3,776,485 by the end of September. Even so, Spain leads European unemployment in August, with a rate of 16.2%, which is double than that of the Eurozone (8.1%), according to data published yesterday by Eurostat.