Unemployment Rises By 60,800 In The Third Quarter Despite The Creation Of 77,700 Jobs

unemployment spain

Unemployment rose by 60,800 people between July and September, which is almost 2.1% more than in the previous quarter, while employment increased by 77,700 jobs (+0.4%), bringing the total number of employed to over 20.5 million people, according to data from the Labour Force Survey (EPA) released by the National Statistics Institute (INE).

At the end of September, the total number of unemployed stood at 2,980,200 people and the number of employed at 20,545,700 people, its highest figure since the third quarter of 2008, when it exceeded 20.55 million workers.
With the exception of 2020, when the pandemic pushed up unemployment in the third quarter by 355,000 people, the upturn in unemployment this summer is the worst third quarter figure since 2012, when it rose by 93,200 people.

Thus, the unemployment rate rebounded by almost two tenths in the third quarter of this year, to 12.67%, while the activity rate rose by just over a tenth, to 58.86%, after increasing the number of active people by 138,500 between July and September (+0.6%).

On the other hand, the number of households with all their members unemployed fell by 12,900 in the third quarter of the year, by 1.3% compared with the previous quarter, to 977,400, its lowest figure since the end of 2008.

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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.