- They are the best results for the labor market since the beginning of the recession and show the effectiveness of the reforms.
- The unemployment rate falls to 24.47% and the total number of unemployed is reduced to 5.62 million, the lowest level since the end of 2011.
- The number of unemployed people who find employment is greater than the number of employed people who lose it, which leads to an improvement in confidence.
- The quarterly increase in the jobs created focuses on the private sector and is divided between temporary and indefinite.
- The number of households with all their unemployed members falls by 145,000, to 1.83 million
Employment increased by 402,400 people in the second quarter of the year, up 2.4%, according to estimates from the Active Population Survey (EPA) prepared by the INE. This is the highest employment growth in a second quarter since 2005. In the last year 192,400 jobs have been created, 1.1% more, the first increase in jobs created since the second quarter of 2008, a period in which the one that the economy initiated the recession. Unemployment has been reduced by 310,400 people in the second quarter, a historical record for any quarter in homogeneous figures. The total number of unemployed people stands at 5,622,900, the lowest since the last quarter of 2011, and the unemployment rate is reduced 1.5 points, to 24.5%. The EPA of flows It shows a positive balance between the number of unemployed people who become employed and the number of employed people who lose their jobs (+335,700 people). This evolution reflects an increase in confidence in employment.
From a sector perspective, employment has increased in all sectors, except for agriculture, with earnings of 378,600 tertiary jobs, 56,700 in industry and 36,900 in construction. On the contrary, agriculture scored a reduction of 69,800 jobs. Regarding a year before, the only sector that increased its level of employment was services, with 263,800 more jobs. Meanwhile, construction lost 55,200 troops, agriculture 13,800 and industry 2,400. However, industry slows the rate of fall by 3.5 percentage points, to -0.1%, and construction 6.3 points, to -5.3%. Agriculture decreases 1.8% compared to a year earlier, compared to the 12.9% increase of the previous quarter.
In response to the professional situation, the quarterly advance of employment has corresponded to 388,000 employees and 14,400 to non-employees. The increase in employment has been concentrated mainly in the private sector, 393,400 more jobs, while the public increased by 8,900 jobs. With respect to a year earlier, the private sector increased its troops by 208,000 and the public reduced them by 15,500, with interannual rates of 1.5% and -0.5%, respectively.
According to job stability, the quarterly increase of employees has fallen both in temporary and indefinite ones. The latter have increased by 180,200 and the storms have increased by 207,800. In relation to a year earlier, workers with an indefinite contract increased 0.3%, from -1.9% in the previous quarter, and those with temporary contracts rose 6.5%, 1.5 points more than in the first quarter of the year After this result, the temporary rate increases 0.8 points compared to the first quarter, up to 24%.
As regards the workday, full-time employees increased by 304,400 in the second quarter and part-time employees increased by 98,000. With respect to the same period of 2013, the full-time ones showed an increase of 0.8% and the part-time ones increased 2.6%. These rates mean an acceleration of 1.7 points in the first group and 0.5 points in the second. Following these results, the weight of part-time workers over the total increases 0.2 points in the quarter, with the bias rate at 16.4%.
The active population increased by 92,000 people in the quarter (0.4%), after six quarters of consecutive setbacks. Compared to a year earlier, it was reduced by 232,000 people, -1%, compared to the 1.8% decrease in the previous quarter. The inter-quarterly increase in the active population responds mainly to an increase in the activity rate and, to a lesser extent, to the increase in the population over 16 years. The activity rate increases by 0.2 points, standing at 59.6%, due to the activity rate of men, which rises four tenths, while that of women is reduced by four hundredths, to 53, 7%
Unemployment It decreased by 310,400 people in the second quarter, compared to the decline of 230,900 in the same quarter of the previous year, representing a quarterly decline of 5.2%. It should be noted that the fall in unemployment in the second quarter is the largest of the INE historical series, in homogeneous terms.
After this result, the total unemployed stands at 5,622,900 people and the unemployment rate falls 1.5 points, to 24.5% of the active population; This quarterly decline in the unemployment rate is also historic. When working with the seasonally adjusted unemployment series by the INE, the inter-quarterly variation stands at -3.1%, compared to -2.5% in the first quarter. With respect to a year earlier, unemployment was reduced by 424,500 people, 7%, which represents an intensification of the annual rate of decline of 1.5 percentage points.
The quarterly fall in unemployment has affected both men and women. The first group decreased by 184,400 people, with which its unemployment rate dropped 1.7 points to 23.7%. In women, unemployment fell by 126,100, reducing its unemployment rate by 1.2 points, to 25.4%. The number of households with all their unemployed members decreased by 145,000 compared to the first quarter.
In summary, the EPA for the second quarter of the year is positive, shows significant improvements in the labor market and reveals that the economic recovery is already having an impact on job creation. Not only has a historical record quarter in occupation been reached, but it has also been possible to create employment during the last twelve months, which was not achieved for six years. This labor market response would not have been possible without the structural reforms undertaken and without the wage and price restraint that is still being observed. However, the level of unemployment is unacceptable and that is why it is essential to persevere in structural reforms, as well as in the moderation of prices and wages, which will allow maintaining the momentum of the recovery of production and employment.
