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The unemployment rate falls to 16.4% in the third quarter, its lower level from 2008

Spain recovers the level of the 19 million of people with work, according to the summer EPA, something that was not happening since the summer of 2009

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The unemployment rate falls to 16.4% in the third quarter, its lower level from 2008

The unemployment rate has fallen to 16.38% in third quarter of this year, according to National Institute of Statistics. It is lowest rate since 2008, when fall of Lehman Brors unleashed Great Recession, of which in places like Spain almost 10 years later and after almost four years of recovery still suffer consequences. The reduction of this rate in a quarter marked by high season of tourism arrives with a decrease of 182,600 people in number of unemployed, with unemployment in Spain are 3,731,700, according to data of active Population Survey (EPA).

Learn More
  • Unemployment rises in August in 46,400 people for purpose of summer employment
  • On July 3, 2017, day more employment was created in history of Spain
  • Spain already has 1,875,413 foreign workers, highest level since 2010
  • Recovering wages

This quarter has grown employment in 235,900 occupied. This assumes that Spain recovers level of 19 million people with work, something that was not happening since summer of 2009. In terms of adjusted, quarterly variation is 0.75%. In past 12 months, employment has grown by 521,700 people, a 2.82% rate. This improvement comes in two ways, increased public and private employment. The first one has gone up in 58,300 occupied and private does it in 177,600.

The third quarter survey corresponds to summer months, an era next to previous quarter in which labor market lives best times of year thanks to pull of tourist season, summer hirings to cover low Holidays and various agricultural campaigns. That's why it's customary to create jobs and lower unemployment.

The highest growth: Comunidad Valenciana, Madrid and Cataluña

This is appreciated by seeing breakdown by sectors of job creation in third quarter: in services it goes up by 236,400 more; In industry, in 34,100 and under construction, in 21,000. In only descent it is given in agriculture (55,500 less). The biggest increases in employment this quarter occur in Valencian Community (47,400 more), Catalonia (46,100) and Comunidad de Madrid (40,200).

If what you look at is last year and not only quarter, employment has gone up in all sectors: in services There are 301,700 more occupied, in industry 139,400, in agriculture 33,200 and under construction 47,400 more. In Andalusia number of occupied decreases in 9,500. In last year, number of busy people goes up in most of autonomous communities. The largest increases are observed in Andalusia (111,200), Comunidad de Madrid (109,400) and Catalonia (92,700).

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