Spain’s Jobless People Cut By 26,329 In September, Record Drop Since 1996; Rate Doubles The Eurozone’s

Spain jobless people fell to a new record in MaySpanish employment office

The labor market in Spain added 84,013 affiliates in September, the largest increase for this month in the series, while the jobless people fell by 26,329 , also an historic high for the ninth month of the year, reported the Ministry of Labor today. With this figures the total number of unemployed reached 3,776,485 by the end of September.Even so, Spain leads European unemployment in August, with a rate of 16.2%, which is double than that of the Eurozone (8.1%), according to data published yesterday by Eurostat.

Following the historical series, which began in 1996, unemployment has risen in all the months of September, with the exception of 2005, 2006 and 2007, when it fell by 5,824, 17,511 and 10,933 people, respectively.

So far, the biggest fall in unemployment in that month is that of 2006 (-17,511 unemployed) and the biggest rise is that of 2011, when almost 96,000 people joined the unemployed lists.

On the other hand, in September, Social Security increased by an average of 84,013 contributors compared to August, its best figure for this month since records started, thus bringing the total number of employed people to 18,876,389. This is the fifth consecutive month in which the average affiliation has grown.

In addition, in August, spending on contributions by temporary layoffs was 867 million euros, a quarter of the amount spent in May, when this figure reached its highest value with 3,426 million euros.

This update of the labor market in Spain has coincided with the Eurostat data published yesterday, which show that the Spanish unemployment rate is already double than that of the Eurozone in August and that the country is leading in youth unemployment, both male and female.

The unemployment rate in the eurozone has increased one tenth in August compared to July, standing at 8.1% after 5 consecutive months of rising, while in Spain it has grown 3 tenths to 16.2%, which is also the highest of the 27, Iceland and the U.S., although several countries have not released updated data for 2 months.

Spain also is the only EU country with a double-digit unemployment rate in August and is more than 6 points behind the second, Italy, which has seen its rate drop by one tenth to 9.7%.

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