• They are the best results for the labor market since the start of the recession and show the effectiveness of the reforms.
  • The unemployment rate falls to 24.47% and the total number of unemployed falls to 5.62 million, the lowest level since the end of 2011.
  • The number of unemployed people who find a job 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 permanent.
  • The number of households with all their members unemployed falls by 145,000, to 1.83 million

Employment increased by 402,400 people in the second quarter of the year, 2.4% more, according to the estimates of the Labor Force Survey (EPA) prepared by the INE. This is the highest growth in employment 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 the one that the economy started the recession. Unemployment has decreased by 310,400 people in the second quarter, a 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 falls 1.5 points, to 24.5%. Flow EPA shows a positive balance between the number of unemployed who become employed and the number of employed who lose their jobs (+335,700 people). These developments reflect an increase in confidence in employment.

From a sectoral perspective, employment has increased in all sectors, except agriculture, with gains of 378,600 tertiary jobs, 56,700 in industry and 36,900 in construction. In contrast, agriculture recorded a reduction of 69,800 jobs. Compared to a year earlier, the only sector that increased its level of employment was services, with 263,800 more jobs. Meanwhile, construction lost 55,200 personnel, agriculture 13,800 and industry 2,400. However, industry slows down the rate of decline by 3.5 percentage points, down to -0.1%, and construction 6.3 points, down to -5.3%. Agriculture decreases 1.8% compared to a year earlier, compared to the 12.9% increase in the previous quarter.

Considering the professional situation, the quarterly advance of employment has corresponded in 388,000 to employees and in 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. Compared to a year earlier, the private sector increased its staff by 208,000 and the public reduced it by 15,500, with interannual rates of 1.5% and -0.5%, respectively.

According to job stability, the quarterly increase in employees has fallen on both temporary and permanent employees. The latter have increased by 180,200 and the storms have increased by 207,800. In relation to a year earlier, workers with permanent contracts 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 employment rate rose 0.8 points compared to the first quarter, to 24%.

As regards the workday, full-time employed persons increased by 304,400 in the second quarter and part-time employed persons increased by 98,000. Compared to the same period in 2013, the full-time ones showed an increase of 0.8% and the part-time ones increased by 2.6%. These rates represent an acceleration of 1.7 points in the first group and 0.5 points in the second. After these results, the weight of part-time workers over the total increased 0.2 points in the quarter, placing the partiality rate at 16.4%.

The active population increased by 92,000 people in the quarter (0.4%), after six quarters of consecutive declines. Compared to a year earlier, it fell by 232,000 people, -1%, compared to the 1.8% decrease in the previous quarter. The quarter-on-quarter 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 of age. The activity rate increased by 0.2 points, standing at 59.6%, due to the activity rate of men, which increased four tenths, while that of women decreased four hundredths, to 53, 7%.

Unemployment it fell by 310,400 people in the second quarter, compared to the drop of 230,900 in the same quarter of the previous year, which represents a quarterly decrease of 5.2%. It should be noted that the fall in unemployment in the second quarter is the largest of the INE's 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 decrease in the unemployment rate is also historic. When working with the seasonally adjusted unemployment series by the INE, the quarter-on-quarter variation stood at -3.1%, compared to -2.5% in the first quarter. Compared to a year earlier, unemployment fell by 424,500 people, 7%, which represents an intensification of the annual rate of decline of 1.5 percentage points.

The quarterly drop in unemployment has affected both men and women. The first group decreased by 184,400 people, bringing its unemployment rate down 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 members unemployed decreased by 145,000 compared to the first quarter.

In summary, the EPA for the second quarter of the year is positive, showing significant improvements in the labor market and revealing that the economic recovery is already having an impact on job creation. Not only has a record historical quarter in employment been reached, but it has also managed to create employment in the last twelve months, which has not been achieved for six years. This response from the labor market would not have been possible without the structural reforms undertaken and without the wage and price moderation that continues to be 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 in production and employment.



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