- Employment increased by 413,900 employed, 2.3% more than a year ago, all in the private and full-time sector
- The total number of unemployed stood at 4,237 million, the lowest 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 unemployed members 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 Active Population 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 and full-time sector. Households with all their active unemployed members were reduced by 168,900, to 1.38 million, while those with their active members occupied increased to 35.8 million.
The annual closure is reached after a fourth quarter of 2016, which, as usual for that period, has been affected by seasonal factors. Unemployment has fallen by 83,000 people compared to the third quarter, the biggest drop in the historical series for a fourth quarter. Employment also dropped 19,400 jobs, almost entirely concentrated in the public sector, while in the private sector it fell by 1,600 people. The total number of employees with an indefinite contract increased by 60,200 in the quarter, while those with a temporary contract decreased by 79,400.
In 2016 as a whole, the labor market presents a profile in line with the evolution of the Spanish economy. This is the third year of improvement in employment figures and the fourth in terms of declining unemployment. Progress is thus being made in the recovery of pre-crisis levels in terms of the number of people with employment and in the objective of reaching 20 million employed at the end of 2019. Employment grows at an average annual rate of 2.7% , three tenths lower than in 2015, reaching 18.5 million employed. The number of unemployed is reduced to 4,237 million and the unemployment rate falls by more than two points, to 18.63% of the active population. In both cases, these are levels not reached since the third quarter of 2009. Since then, the unemployment rate has dropped by more than eight points.
All employment created in the last year has been concentrated in the private sector, with 428,500 more employed, while public employment has been reduced by 14,600 people. It is also entirely full-time employment (increases by 424,600 people), while part-time employment has been reduced 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 employees with an indefinite contract increased by 169,900 and those with a temporary contract by 226,700. Consequently, the temporary employment 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 sector, while there was virtually no variation in the industry. The number of unemployed people who lost their jobs more than a year ago decreased by 382,000 while decreasing by 38,900 among those seeking the first job. In the last 12 months, the number of households with all its unemployed members has decreased again, while those in which all its assets are occupied have increased.
