Third quarter of the year left spanish economy increase in the number of unemployed (92,700 more people, a total of 2,855,200 unemployed) and unemployment rate slightly higher than in the second quarter (11.84%, compared to 11.6% previously). But the summer months also left a bigger impact number of people employed (209,000 more) which increased the number of employees to a record 21,265,900 million. Active Population Survey (EPA) released it this Thursday. National Institute of Statistics (INE).
explanation of this apparent paradox -The number of unemployed is increasing, but the number of employees is increasing even more- increase in active population. In July, August and September, the number of people of working age (16-64 years old) and those willing to work increased by 301,900, exceeding 24.1 million people (24,121,000). all time high. Looking at the macroeconomic figures, it can be said that 209,000 of the 301,900 people participating in the labor market found a job, while 92,700 remained unemployed.
Accelerated employment growth
Employment scores increased by 209 thousand people in the third quarter The number of people employed increased by 720,100 in the last 12 months It accelerated its annual growth to 3.51%.
The increase in the number of unemployed people by 92,700 people (3.36%) The total number of unemployed people is 2 million 855 thousand 200. Unemployment decreased by 125 thousand people (-4.20%) in the last 12 months.
“The good development in the labor market continued in the third quarter of the year despite the complex international context, reflecting the strength and dynamism of the Spanish economy, which supports families and companies. A new historical maximum was reached in employment and active population, reduce timing And Youth unemployment recorded its lowest rate since 2008“The first reaction of the Ministry of Economy after the publication of the INE data,” he evaluated. From the government’s point of view, the historical maximum reached by the active population “reveals the citizens’ confidence in finding a job.”
More salaried, fewer self-employed
The total number of new employees (209,100) is a result of an increase of 266,000 in the group of salaried employees, while the number of self-employed workers decreased by 60,200 self-employed workers in the quarter. Census in the last 12 months.
More uncertain, less temporary in a year
Among salaried people Indefinite contract increased by 232,100 people in the third quarter and interim agreement at 33,900. In the annual change, the number of employees increases by 716,500 people: permanent employment increased by more than a million people last year (1,102,000) and temporary employment decreased by 385,500 people. provisional rate It remains at a minimum level of 17.26%, ten points below pre-pandemic levels.
Services, industry and construction are increasing, agriculture is decreasing
Occupancy increased this quarter Services (138,700 more people), industry (98,800) and structure (19,500) and a decrease in agriculture (47,800 fewer). Last year, employment increased in services (682,400 more people), construction (49,600) and industry (15,200), but decreased in agriculture (-27,100).
government estimates
In the second quarter of the yearunemployment rate has already fallen to 11.6% of the active populationIn total, 2.7 million became unemployed; this was the lowest figure since 2008, when the housing bubble and banking crisis burst. In the second quarter, Spain also surpassed 21 million workers for the first time, with more stable contracts, fewer unwanted part-time hours and fewer overtime hours.
The government predicts that the average unemployment rate will fall to 11.8% over the year (from 12.9% in 2022) and will continue to fall to an average of 10.9% in 2024. Budget Plan sent to the European Commission on 15 October.