Spain: 4,176,369 Registered Unemployed In October, Up 2.01% From Previous Month

The number of unemployed in Spain registered with the Public Employment Services rose by 82,327 in October, up 2.01% on the previous month.

Since current records began, unemployment has always increased in October. Over the last eight years, unemployment has increased by an average of 102,450 in the month of October.

In seasonally-adjusted terms, unemployment fell by 6,727 last month. The monthly variation in seasonally-adjusted unemployment has fallen in 28 of the last 30 months.

Recorded unemployment has fallen by 350,435 over the last year, the largest annual reduction in recorded unemployment in a month of October since current records began. The year-on-year reduction in unemployment stands at close to 8% (7.74%), a rate that has not been seen in October since 1999.

Following this reduction, the total number of unemployed now stands at 4,176,369.

The trend in unemployment among young people under the age of 25 is particularly noteworthy, at a year-on-year reduction of 47,595. This equates to a reduction of 11.3%, far higher than the general average of 8%.

Recorded unemployment has fallen among those who most recently worked in the construction sector by 3,835 (down -0.85%). In contrast, unemployment rose in the service sector by 61,072 (2.26%); the farming and fisheries sector by 21,595 (11.88%); the industrial sector by 2,906 (0.74%); and among first-time job-seekers by 589 (0.16%).

Recorded unemployment fell in two autonomous regions: the Region of Valencia (-6,890) and the Basque Country (-823). In contrast, it rose in the remaining 15 autonomous regions, especially in Castile-La Mancha (15,843), Castile-Leon (11,826) and the Balearic Islands (10,813).

Permanent full-time employment rises by 14.21% in the year to date

The increase in the number of new hirings seen in recent months continued in October. A total of 1,760,610 new employment contracts were signed, an increase of 3.43% on the same month in 2014.

A total of 151,652 permanent employment contracts were recorded in October. This is an increase of 1.86% on the same month last year. Permanent employment contracts account for 8.6% of all employment contracts recorded in October.

Permanent full-time employment rose by 2.86% on October 2014, which is one point higher than the overall increase in permanent employment.

In the first ten months of the year, permanent full-time employment rose by 14.21% on the same period in 2014.