Like the second quarter EPA, The employment, unemployment and affiliation data for the month of July show a slowdown in our economy, clearly affected by the deceleration of the world economy and, more particularly, by the deceleration of the economy of the Euro Zone, which is our main export market.

It is also about unusual data for a month of July, summer time in which employment traditionally has a good behavior associated with seasonal activities, which cohabit with the still high unemployment rates of our country, of a marked structural nature.

In this global context, the adoption of policies that guarantee investment and job creation is essential, as is a stable political framework that provides security and predictability.

Registered unemployment, according to data made public today by the Ministry of Labor, Migration and Social Security, descends in July in 4,253 people.

It is noteworthy that the fall in unemployment is the lowest produced in this month since 2008, also taking into account the good behavior of employment usually in the summer months, mainly associated with seasonal activities of the services sector.

On the other hand, in seasonally adjusted terms unemployment increases by 2,915 people, which is another sign of slowing down in the process of job creation.

On the other hand, the balance of the last 12 months reflects a drop in unemployment in 123,588 registered unemployed, with an interannual rate of -3.94%.

Although the barrier of the three and a half million unemployed people is abandoned, by placing us at 3,011,433, the lowest figure since November 2008, we remain close to that barrier -3,487,148-, if we count those excluded from the official lists for being in any of the situations regulated in the Order of March 11, 1985 and, in particular, for being conducting training courses or being job seekers with “limited availability” or with “specific employment demand”.

Social Security Affiliation

In line with the behavior of hiring and employment, the Social Security affiliation data, indicative of the evolution of our labor market, reflect an increase with respect to the previous month by 15,514 people.

We are facing the most moderate growth since 2012, being the second worst in a month of July of the entire historical series, which shows a slowdown in the labor market.

Likewise, we are facing an increase in seasonally adjusted terms of 4,334 members.

The number of employed members is now 19,533,211, being the maximum of the entire historical series.

In interannual terms, membership increases by 490,401 people, of which 479,263 correspond to the General Regime. In this way, the positive interannual rate stands at 2.58%, which moderates the growth rate.

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