- Unemployment has decreased by almost half a million people in the last year and the unemployment rate has dropped two points, to 23.7%
- Employment in the private sector increases by 415,700 people, 2.9% more, while in the public sector it rises by 18,100
- The number of permanent contracts grows by 212,800 and temporary contracts by 176,900
- Full-time jobs increase by 367,400 people and part-time jobs rise by 66,500
- Households with all their members unemployed are reduced by 159,600 and there are 422,600 more with all assets employed
According to estimates from the Labor Force Survey (EPA) prepared by the INE, employment increased by 65,100 people in the fourth quarter of 2014 compared to the previous quarter. It is the third consecutive quarter in which employment has grown and the first in a fourth quarter since 2006. In the last year, 433,900 jobs have been created, with an increase of 2.53%, nine tenths higher than the previous quarter and at the highest rate since the fourth quarter of 2007. Unemployment increased by 30,100 people in the fourth quarter, although in deseasonalized terms it decreased 1.1% compared to the previous quarter. The total number of unemployed people stands at 5,457,700 and the unemployment rate remains at 23.7% of the active population. In relation to a year earlier, unemployment has dropped by 477,900 people and the unemployment rate has dropped two points.
The quarter-on-quarter increase in employment has been 0.4%, a rate that stands at 1.0% with seasonally adjusted series, double that in the third quarter and the highest rate since 2006, according to INE estimates. From a sectoral perspective, the increase in the number of employed persons has been concentrated in agriculture, industry and construction, with increases of 62,800, 11,700, 7,800, respectively. In contrast, services recorded a reduction of 17,200 jobs. Compared to a year earlier, the level of employment increased in non-agricultural branches, with 344,200 more employed in services, 98,000 in industry and 40,000 in construction, while agriculture lost 48,400 personnel.
By age group, the greatest increase in employment in the fourth quarter of 2014 was concentrated in groups of 50-54 years (62,400 more employed people) and 55 and more (48,400), while employment has decreased among young people under 35 years, especially in the 25-29 age group (40,200 less).
Taking into account the professional situation, the quarterly increase in employment has corresponded entirely to employees, who increased by 69,900, while the number of non-employees has decreased by 4,800. On the other hand, the increase in employment has been concentrated mainly in the private sector, with 63,100 more employees, while public employment has increased by 2,000 people. Compared to a year earlier, the private sector increased its staff by 415,700 and the public by 18,100, with interannual rates of 2.9% and 0.6%, respectively.
The quarterly increase in employees has corresponded to workers with an indefinite contract, 110,900 more, while those with a temporary contract have decreased by 41,000. After this result, the temporary rate fell 0.4 points compared to that of the third quarter, to 24.2%. Compared to a year earlier, workers with permanent contracts increased by 212,800 people and those with temporary contracts, by 176,900.
Regarding the working day, the number of full-time employed persons has decreased by 130,800 in the fourth quarter of 2014, while the number of part-time workers increased by 195,900. Compared to the same period in 2013, full-time ones increased by 367,400 people and part-time ones by 66,500.
The Unemployment has increased by 30,100 people in the fourth quarter of 2014, which is the second best figure in a fourth quarter after 2013. Total unemployed stands at 5,457,700 and the unemployment rate at 23.70% of the active population, three hundredths higher than that of the third quarter. With seasonally adjusted series, the quarter-on-quarter variation in the number of unemployed stood at -1.1%, compared to -1.9% in the third quarter, chaining seven quarters of consecutive falls. Compared to a year earlier, unemployment has decreased by 477,900 people, 8.05%. The quarterly increase in unemployment has affected men, with 30,200 more unemployed, while among women the number of unemployed remained practically stable. The unemployment rate for men stood at 22.8%, three tenths higher than that of the third quarter, and that of women, at 24.7%.
By branches of activity, unemployment increased compared to the previous quarter in all economic sectors, except agriculture, where it decreased by 14,100 people. The greatest increase took place in services (35,100), followed by industry and construction, with 15,500 and 4,900 more unemployed, respectively. Compared to a year earlier and in the group of people who lost their jobs more than 12 months ago, unemployment decreased by 211,800 people, and the unemployed seeking first job decreased by 11,400.
The number of households with all their active members unemployed decreased in the fourth quarter by 23,100 and the number of households with all their active active members decreased by 37,000. Compared to a year ago, the number of households with all their members unemployed has decreased by 159,600, while those with all their assets occupied has grown by 422,600.
The active population increased by 95,200 people in the fourth quarter. Thus, the path of consecutive decreases begun in late 2012 was interrupted for the second time in 2014. It is the first increase in the active population in a fourth quarter since 2009. Compared to a year earlier, the active population decreased by 44,000 people, which responds to the decrease in the population of working age (16-64 years), which in turn is explained by the aging of the population. The activity rate increased three tenths in the quarter, up to 59.8%.
The EPA of the fourth quarter of 2014 confirms that there has been a change in trend in the situation of the labor market in Spain. In the annual calculation, the number of employed persons grows for the first time since the crisis began and accelerated for the third consecutive quarter. The unemployment rate improves two points compared to a year ago, to 23.7%, and unemployment falls by almost half a million people. These data show that the reforms carried out and the reduction of imbalances together with the effort of Spanish society are giving results when it comes to solving the problem of unemployment, the main objective of economic policy. The creation of employment together with the improvement of the purchasing power of incomes and the reduction of taxes are a boost for private consumption and the recovery of the economy as a whole.
