Spain Registers Largest Monthly Fall In Unemployment For October With 27,027 Back In Work
Spain News
Published: 03 November 2022 09:59 CET
Updated: 31 January 2023 09:59 CET
The number of jobless in Spain fell 0.92% in October with 27,027 more people finding employment, data from the country’s Labour Ministry showed on Thursday.
It is the biggest reduction in this month for the historical series in a period in which the numbers usually rise.
Furthermore, another 103,499 affiliates were added in October, bringing the total number of people contributing to the social security system to 20,283,786.
It means that the number of people registered as unemployed has now fallen to 2,914,892, the lowest figure for the month of October since 2008.
The quality of employment has also improved with more permanent positions now being taken accounting for more than half of all contracts. There are also 50% fewer temporary contracts than a year ago.
Unemployment by sector
All of Spain’s economic sectors saw a fall in unemployment in October compared to September.
The Services sector led the way with 16,153 fewer unemployed. This was followed by Agriculture with a fall of 11,351, Construction with 4,566, and Industry with a reduction of 551.
Unemployment by autonomous region
It was also good news for 10 of the country’s regions which saw a decline in unemployment.
Andalucia registered the biggest fall with 18,736 finding work. This was followed by Catalunya with a fall of 6,321 and Extremadura with 2,670 fewer people out of work.
Unemployment by sex
Unemployment fell between both sexes in October with the number of women out of work falling by 12,128 (0.69%) in a month which is traditionally lower for female employment.
Year-on-year, female unemployment has fallen by 181,821 (-9.43%) with a total of 1,746,758 out of work. This is the lowest figure since October 2008.
The number of males finding work also fell by 14,899 (-1.26%) in October bringing the total number of men out of work to 1,168,134. Over the past year, male unemployment has fallen by 160,355 (-12.07%).
However, it wasn’t such good news for the under-25s which saw a rise of 1,845 (+0.88%) on the previous month. There are now 212,118 under-25s now out of work although this is the lowest figure recorded in October.
Spain’s vice president and Minister of Labour and Social Economy Yolanda Díaz stressed that the October figures were “very good data for citizens but very bad for the doomsayers of the Apocalypse.”
In a statement to TVE, Díaz acknowledged that although the latest data was “very positive”, much remained to be done to drive the unemployment numbers down further.
Source
https://www.lamoncloa.gob.es/serviciosdeprensa/notasprensa/trabajo14/Paginas/2022/031122-datos-del-paro.aspx
https://cadenaser.com/nacional/2022/11/03/el-paro-baja-en-octubre-en-27027-personas-cadena-ser/
https://www.reuters.com/markets/europe/spains-october-jobless-falls-092-september-291-mln-2022-11-03/
