Spain unemployment rises in August, but drops by 8% in last 12 months


These figures put an end to a period of six consecutive months of unemployment declines: February by 13,500, March 60,200, April 119,000, May 118,000 and June 13,500.

The jobless rate grew in all economic sectors except agriculture, in which it contracted by 5,964 people and those previously unemployed (-5,678, -1.59%). Services was the most affected industry with an increase of 22,876 people (+0.87%), followed by the manufacturing sector (+5,802 unemployed, +1.49%) and construction (+4,643, +1.02%).

The unemployment rate fell in August in six regions, mainly Galicia (-2,639), Canary Islands (-1,257) and Asturias (-1,057).

Spain’s Labour Minister, Fátima Báñez, said “as usual, Spain stops in August” with the consequent rise in unemployment during this month in which most of summer contracts are registered.

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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.