Spain reaches all-time high of 21 million people in employment

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CdM| Unemployment fell by 365,300 people in the second quarter of the year, which is 11.7% less than in the previous quarter, while 603,900 jobs were created (+2.9%), bringing the total number of employed for the first time in history to 21,056,700 people, according to data from the Labour Force Survey (EPA) published on Thursday by the National Statistics Institute (INE).

The drop in unemployment experienced between April and June is the highest in a second quarter since 1977 and takes the level of unemployment to 2,762,500, its lowest figure since the third quarter of 2008.

Thus, the unemployment rate fell by almost 1.7 points in the second quarter, to 11.6%, its lowest value since the third quarter of 2008. For its part, the activity rate rebounded four tenths, to almost 59%, after increasing the number of active people by 238,600 people between April and June (+1%).
In the last year, unemployment has fallen by 157,000 people (-5.4%) and 588,700 jobs have been created (+2.9%), while the number of active people has increased by 431,700 people (+1.8%).

According to the INE, the number of wage earners increased in the second quarter by 505,500 people (+2.9%), of whom 410,100 had permanent contracts (+2.8%) and 95,400 had temporary contracts (+3.2%).

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The Corner
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.