Spanish Unemployment Reaches Its Lowest Rate In Nine Years

Social security enrollment improvesSocial security enrollment improves

The number of Spanish unemployed fell by 47,697 in March in comparison with the previous month, according to figures from the Labour ministry. Compared to the same period of 2017, unemployment decreased by 279,766, which keeps the year-on-year reduction level at 7.5 percent.

The number of registered unemployed totaled 3.42 million, which was the lowest level of the last nine years, the ministry said on Tuesday. This means that since March 2013 highs registered, unemployment has been reduced by 1,617,671.

Temporary hiring contracted at a rate of 6.5 percent on a year-on-year basis against permanent contracts, which have been increasing for 50 months in a row.

At the same time, unemployment among youth aged below 25 decreased by 1,774 in March from the previous month.

The average Social Security affiliation exceeded 18.5 million of employed people in March (18,502,088). This figure was not reached since December 2008 (18,531,312).

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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.