• Unemployment is reduced by almost half a million people in the last year and the unemployment rate drops by 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 indefinite 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 unemployed members are reduced by 159,600 and there are 422,600 more with all the assets used

According to estimates of the Active Population 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 grows 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%, higher by nine tenths than the previous quarter and at the highest rate since the fourth quarter of 2007. Unemployment increases by 30,100 people in the fourth quarter, although in deseasonalized terms it is reduced by 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 before, unemployment has fallen by 477,900 people and the unemployment rate has been reduced by two points.

The inter-quarterly increase in employment has been 0.4%, a rate that stands at 1.0% with corrected series of seasonality, double that in the third quarter and the highest rate since 2006, according to INE estimates. From a sector perspective, the increase in the number of employees has been concentrated in agriculture, industry and construction, with increases of 62,800, 11,700, 7,800, respectively. On the contrary, services recorded a reduction of 17,200 jobs. With respect to a year earlier, the level of employment increases in non-agricultural branches, with 344,200 more employed in services, 98,000 in industry and 40,000 in construction, while agriculture loses 48,400 troops.

By age groups, the largest increase in employment in the fourth quarter of 2014 has been concentrated in groups of 50-54 years (62,400 more employed) and 55 and more (48,400), while employment has decreased among young people less than 35 years old, especially in the 25-29 year old group (40,200 less).

Based on the professional situation, the quarterly increase in employment has corresponded entirely to employees, which increase by 69,900, while the number of non-employees has been reduced by 4,800. On the other hand, the increase in employment has been concentrated mainly in the private sector, with 63,100 more employed, while public employment has increased by 2,000 people. With respect to a year earlier, the private sector increased its troops by 415,700 and the public by 18,100, with interannual rates of 2.9% and 0.6%, respectively.

The quarterly increase of employees has corresponded to workers with an indefinite contract, 110,900 more, while those with temporary contracts have been reduced by 41,000. After this result, the temporary rate drops 0.4 points compared to the third quarter, up to 24.2%. In relation to a year before, workers with an indefinite contract increased by 212,800 people and those with temporary contracts, by 176,900.

With regard to working hours, the number of full-time employees has decreased by 130,800 in the fourth quarter of 2014, while part-time employees increase by 195,900. With respect to the same period of 2013, the full-time increase by 367,400 people and the part-time increase 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. The total unemployed stands at 5,457,700 and the unemployment rate at 23.70% of the active population, higher in three hundredths than in the third quarter. With seasonally adjusted series, the inter-quarterly variation in the number of unemployed stands at -1.1%, compared with -1.9% in the third quarter, linking seven quarters of consecutive falls. With respect to a year earlier, unemployment has been reduced 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 was 22.8%, three tenths higher than the third quarter, and for women, 24.7%.

By branches of activity, unemployment increased compared to the previous quarter in all economic sectors, except in agriculture, where it decreased by 14,100 people. The largest increase took place in services (35,100), followed by industry and construction, with 15,500 and 4,900 more unemployed, respectively. With respect to a year before 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 employment decreased by 11,400.

The number of households with all their active unemployed members decreased in the fourth quarter by 23,100 and that of households with all their active members occupied increased by 37,000. With respect to a year ago the number of households with all their unemployed members has been reduced by 159,600, while those with all their assets occupied have grown by 422,600.

The active population increased by 95,200 people in the fourth quarter. The path of consecutive declines started at the end of 2012 is interrupted for the second time in 2014. It is the first increase in the active population in a fourth quarter since 2009. With respect to a year earlier, the active population decreases by 44,000 people which responds to the decrease of the population of working age (16-64 years), which in turn is explained by the aging of the population. The activity rate increases three tenths in the quarter, to 59.8%.

The EPA of the fourth quarter of 2014 confirms that there has been a change in the trend in the labor market situation in Spain. In the annual calculation, the number of employed people grows for the first time since the crisis began and accelerated for the third consecutive quarter. The unemployment rate improved two points compared to a year ago, up to 23.7%, and unemployment fell by almost half a million people. These data show that the reforms carried out and the reduction of imbalances together with the efforts 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 income and the reduction of taxes represent a boost for private consumption and the recovery of the economy as a whole.

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