- Employment increased by 413,900 employed persons, 2.3% more than a year ago, all in the private sector and full time
- The total number of unemployed stood at 4,237 million, the lowest figure in seven years
- Unemployment fell in the fourth quarter by 83,000 people, the biggest drop in the historical series for that period
- Households with all their members unemployed fell by 168,900 and those with all their assets occupied rose by 353,200.
The Spanish economy reduced the number of unemployed by 541,700 people at the end of 2016, according to data from the Labor Force Survey (EPA) published by the INE. The total number of unemployed thus stood at 4,237 million, the lowest figure since the third quarter of 2009. The unemployment rate fell to 18.6%, 2.26 points below that of a year earlier. Employment increased by 413,900 people, 2.3% more than in the last quarter of the previous year, all created in the private sector and full time. Households with all their active members unemployed fell by 168,900, to 1.38 million, while those with their active members occupied rose by 353,200, to 9.88 million.
The annual closing comes after a fourth quarter of 2016, which, as usual for that period, has been affected by seasonal factors. Unemployment has dropped by 83,000 people compared to the third quarter, the biggest drop in the historical series for a fourth quarter. Employment also fell 19,400 jobs, almost entirely concentrated in the public sector, while in the private sector it fell by 1,600 people. Total salaried employees with permanent contracts increased by 60,200 in the quarter, while those with temporary contracts decreased by 79,400.
In the whole of 2016, the labor market presents a profile consistent with the evolution of the Spanish economy. This is the third year of improvement in employment figures and the fourth in terms of decreased unemployment. Progress is thus made in the recovery of pre-crisis levels in terms of the number of people with jobs and the goal of reaching 20 million employed by the end of 2019. Employment grows at an average annual rate of 2.7% , three tenths lower than that of 2015, reaching 18.5 million employees. The number of unemployed falls to 4,237 million and the unemployment rate falls more than two points, to 18.63% of the active population. In both cases, these levels have not been reached since the third quarter of 2009. Since then, the unemployment rate has decreased by more than eight points.
All employment created in the last year has been concentrated in the private sector, with 428,500 more employees, while public employment has decreased by 14,600 people. It is also entirely full-time employment (increases by 424,600 people), while part-time employment has decreased by 10,700 people. Employment has been created in all sectors, especially in services (58% of the total), followed by industry, agriculture and construction. The number of salaried employees with permanent contracts increased by 169,900 and those with temporary contracts increased by 226,700. Consequently, the temporary rate stands at 26.47% (25.66% a year earlier).
The annual fall in unemployment has been 11.33% and has been concentrated, in this order, in the services, construction and agriculture sectors, while there was practically no variation in industry. The number of unemployed people who lost their job more than a year ago decreased by 382,000 while it decreased by 38,900 among those seeking the first job. In the last 12 months, the number of households with all their members unemployed has decreased again, while those in which all their assets are occupied have increased.