T.C. | The number of registered unemployed in Spain fell by 59,149 people in March (-1.5%), its largest decline in this month since 2015, according to data published on Tuesday by the Ministry of Labour. With this decline in unemployment, which puts an end to five consecutive months of increases, the total number of unemployed reached 3,949,640 at the end of March.
Unemployment rose in January by 90,248 people and the Social Security system lost 244,044 members, the worst figure since 2013, when Spain was trying to emerge from the crisis. All the Autonomous Communities, except for the Balearic Islands, have seen the unemployment rate rise in all sectors except construction, so some Autonomous Communities already have more unemployed than in 2019.
MADRID | The Corner | The number of unemployed people registered in the Public Services of Employment has fallen to 4,512,116. It dropped by 14,688 people in November with respect to the previous month. This represents the best figure for November since records began in 1996, according to the Ministry of Labour and Social Security. The unemployment rate has now fallen for three consecutive months
MADRID | The Corner | Although it is not part of ECB’s mandate, last Friday in Jackson Hole, President Mario Draghi spoke about what needs to be done in the euro area to address the problem of high unemployment and weak economic growth. As Barclays analysts believe, the speech “represented a significant breakthrough in the ECB rhetoric and will probably have significant implications regarding the debate just about to start between European government on policies that need to be deployed to avoid a ‘triple-dip recession’ and a fall in outright deflation.”
MADRID | The Corner | The unemployment rate in Spain falls in July by 29,841 people and drops for six consecutive months. The total number of unemployed stands at 4,419,860. For the first time, unemployment is below the 4.42 million that the current executive found when it came to power. Regarding to the nature of the employment created, it is important to highlight the growth of indefinite contracts by 18.41%. The cumulative reduction of unemployment in the first 7 months of the year (281.478 people) is the largest since 1998. In seasonally adjusted terms, unemployment registered in July grows in 32,357 people, a figure which corresponds to the time series trend, where since 2000 the seasonally adjusted unemployment always increases in July, with the only exception of 2004.
MADRID | The Corner | The fall in inflation in July to 0,4% YoY and a still high unemployment rate of 11.5% in the Eurozone show that the policy measures the ECB announced in June are going to take some time to reach the real economy.
MADRID | The Corner | Despite the slow recovery, unemployment in the eurozone has fallen faster than expected. According to the Labor Force Survey, the rate of jobless population has gone from 12.5% in 1Q13 to 12.2% in 1Q14. The reason? The single currency club is ageing. Also, immigration is playing a secondary role, as unemployment rate for non-EU citizens notably higher than for nationals in the EU28.
BRUSSELS | By Alexandre Mato | The last Eurobarometer after the european elections showed that the EU’s image is improving among its citizens. 35% of them have a positive image of communitarian institutions. Austerity measures to fight the economic crisis or the unresolved unemployment problem have not erased this ‘popular feeling’. But more than 40% think that in a national or European level the economy will remain “the same” for the coming 12 months. Only 24% see an improvement.
MADRID | By Fernando G. Urbaneja | June employment data are the best in the last seven years: economy is moving and employment reflects an activity with generalised increases in sectors and regions. Spanish growth is still slight but significant after seven years of decline. (Graph: Charles Butler @ibexsalad)
SAN FRANCISCO | By Atul Singh via Fair Observer | With 61% of its population under 24, Africa’s greatest challenge is finding jobs for its youth. The continent needs to provide employment to 200 million people aged between 15-24. As per the World Bank, youth account for 60% of Africa’s unemployed. The African Economic Outlook records extensively how the young fare in labor markets. Lack of demand for labor, absence of meritocracy, and lack of proper training are the top three barriers to getting a job.
This article was originally published on Fair Observer.