Spain: Unemployment At Lowest Level In Last Seven Years

The number of recorded unemployed people in Spain at the State Public Employment Services has fallen in February by 9,355 in relation to the previous month. This fall is the second largest fall of the month of February in the last 12 years. Unemployment has increased in February in each of the last eight years, by an average of 57,863 people.

The total number of recorded unemployed now stands at 3,750,876 people, and is at the lowest level for the last seven years.

In seasonally-adjusted terms, unemployment fell in the month of February by 32,711 people.

Compared with February 2016, unemployment has fallen by 402,110 people (down 9.68%), the largest fall in a month of February on record.

Unemployment among young people under the age of 25 has fallen over the last 12 months by 48,970 people, an 14% decrease, which is above the general average of 9.68%.

In terms of recorded unemployment by sector of activity, this fell in the services sector by 13,738 people (down 0.54%), in construction by 6,676 (down 1.81%) and in industry by 3,388 (down 0.98%). By contrast, it rose in agriculture by 9,734 (up 5.61%) and among first-time job seekers by 4,713 (up 1.52%).

Recorded unemployment fell in 11 autonomous regions, headed up by the Balearic Islands (down 3,086), Aragon (down 2,818) and Extremadura (down 1,982). In contrast, it rose in the other six regions, headed up by Andalusia (up 2,361) and the Region of Madrid (up 1,673).

Permanent employment contracts increase by 8.4%

The number of contracts registered in the month of February amounted to a total of 1,452,528, the highest figure on record for a month of February. This represents an increase of 75,048 (up 5.45%) on the corresponding month in 2016.

The number of permanent employment contracts registered in February 2017 amounted to 151,072, an 8.4% increase, or 11,708 additional contracts, on the same month of last year.

Full-time permanent employment contracts increased by 8.8% year-on-year, more than three points above the increase registered in temporary employment contracts, which stood at 5.1%.


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