Spain Creates 464,900 Jobs In Second Quarter 2021

employed spainThe number of employed people increased in all sectors

The Q2 2021 unemployment rate stood at 15.26% versus 15.98% in the previous quarter, according to data released yesterday by Spain’s National Statistics Institute. The activity rate improved to 58.6% quarter-on-quarter. Meanwhile, the number of jobless people decreased to 3.5 M (-3% q/q), while the number of employed people increased by 464,900 to 19.7M (+2.4%).

This calculation does not take into account the people in temporary lay-off schemes, still around 450,000 at end-June, according to data from the Ministry of Social Security. In addition, there are 160,000 self-employed people on benefits, which would bring the unemployment rate to 17.8%.

The number of employed people, which is calculated differently from the unemployed, increased in all sectors, especially in the services sector. The tourism and hospitality industries have seen their activity increase considerably since May, after being hit very hard by the crisis.

Employment is improving particulary in the most tourist regions, such as Andalusia, the Balearic Islands and the Community of Valencia.

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.