Spain unemployed totalled 2.941 Mn in September, lowest level for that month since 2008

unemployment Spain

Spain’s unemployment registered an increase of 0.6%, or 17,679 people, in September from the previous month, the Labour Ministry said on Tuesday. This was the third consecutive month of increases.

However, the total unemployed in September was at the lowest level for that month since 2008, standing at 2.941 million people.

Compared to a year earlier, the number of unemployed fell by 9.70% or 315,883 people in September.

Bankinter analyst team’s view: “The there was a slight uptick in the number of unemployed in September, which means a third consecutive month of an increase. Traditionally, apart from the last two years, September has seen an average rise of 23,300 workers over the last 20 years. The implicit jobless rate would remain at around 12.7% (National Statistics Institute for Q2 2022 of 12.48%).”

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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.