Eight-year unemployment rate low in Spain

Photo credit: Global Auto Transportation

THE number of registered unemployed at the offices of the Public Employment Service (SEPE) in Spain has fallen by 98,317 in June compared to the previous month.

This shows the total number of unemployed registered in the month of June in Spain stands at 3,362,811; the lowest level for eight years.

In seasonally adjusted terms, unemployment in June fell by 21,668.

Over the last 12 months, unemployment in Spain has reduced by 404,243, showing an annual rate of reduction of close to 11 per cent.

In one of the more encouraging signs, unemployment among young people under 25 years old dropped by 16.5% year-on-year, significantly above the overall average of 10.7%.

The construction sector led the way with unemployment decreasing by 75,101, followed by 10,168 in industry.

For those that hadn’t had any previous employment, those numbers dropped by 10,249.

Looking at the figures for the Autonomous Communities, registered unemployment fell mainly in Catalonia (-18,102), Andalucia (-10,324) and Galicia (- 9,973).

The total number of contracts registered during the month of June was 2,089,520, representing an increase of 169,180 (8.81%) over the same month in 2016.