- The occupation increases by 2.65% per year which translates into the creation of 478,800 jobs
- Most of the employment created is concentrated in the private sector and is full time
- The number of unemployed has been reduced by 530,000 people in the last year and the unemployment rate drops to 18.91%
- Since the worst moment of the crisis, 1,577 million net jobs have been created and there are almost two million fewer unemployed
The evolution of the labor market during the third quarter of the year follows the path of improvement in line with the recovery of the Spanish economy. According to data from the Active Population Survey (EPA) published by the INE, between June and September, 226,500 jobs have been created, the highest figure for a third quarter since 2005; that is, before the start of the recession. Job creation increases at an annual rate of 2.65%, 0.22 points more than in the second quarter, which translates into the creation of 478,800 jobs in the last year, to 18,527 million employed. Most of the employment created is in the private and full-time sector. The number of unemployed has been reduced by 530,000 people, at a rate of 10.93% annually, to 4.32 million unemployed, the lowest level since the end of 2009. The unemployment rate stands at 18.91 %, 2.27 points less than a year ago, and falls for the first time from 20% in the last six years.
Labor market figures for the third quarter represent an advance in the objectives set for overcoming the crisis; especially, the goal of 20 million employed and continue to reduce the unemployment rate. Since the worst moments of the recession (the first quarter of 2014 in the case of employment and the first quarter of 2013 in the case of unemployment), more than 1.57 million net jobs have been created and unemployment has fallen by 1,957 millions of people. The unemployment rate has since dropped eight points.
According to the EPA in the third quarter of the year, employment has increased by 226,500 people compared to the second quarter. Almost all employment has been created in the private sector (217,700), while in the public sector, employment has increased by 8,900. Employees with an indefinite contract have fallen by 29,100 and those with a temporary contract are up 245,900, a fact that relates to seasonal factors, specifically, with the greater activity in hospitality and tourism. By sectors, employment increases in non-agrarian, mainly in services, followed by industry and construction. All employment created is full-time (330,500 more people) while the number of employed persons with part-time contracts decreases (104,000 less).
In the last twelve months, employment has increased by 478,800 people, mostly in the private sector (96.3% of the total) and full-time (532,100 more people). Employment has been created in all sectors, especially in services, but also in agriculture, construction and industry. The number of employees with an indefinite contract increases by 213,100 and those with a temporary contract increases by 242,600. With this, the temporary employment rate stands at 26.96%, 81 hundredths higher than a year earlier.
As for unemployment figures, in the third quarter there has been a decrease of 253,900, to 4.32 million, the lowest level since the end of 2009. Unemployment has fallen in the quarter in all sectors, especially in the one of services. The number of unemployed people who lost their job more than a year ago is reduced by 123,500 and those seeking the first job decrease by 1,600 unemployed. In the last year, unemployment has fallen by 530,000 people, at a rate of -10.93%. Low in all sectors except industry, which remains.
The unemployment rate stood at 18.91% in the third quarter of the year, 1.09 points less than in the second quarter and 2.27 points below a year ago. In the last twelve months, the number of households with all their active members unemployed has decreased by 134,700, to 1,438 million. In turn, the number of households in which all active members are employed has increased by 357,000, to 9,823 million.