- Employment grows at an annual rate of 1.6%, half a point above the second quarter
- The increase in employment is focused on the private sector, services and the long-term unemployed
- The unemployment rate drops to 23.7%, eight tenths lower than that of the second quarter
- The number of households with all their members unemployed falls by 44,600 and those who are all employed grow by 165.00
According to the estimates of the Labor Force Survey (EPA) prepared by the INE, employment increased by 151,000 people in the third quarter of 2014 compared to the previous quarter, 0.9% more. This increase is significantly higher than that registered in the same quarter of 2013 (69,400) and represents the largest increase in a third quarter since 2007. In the last year, 274,000 jobs have been created, 1.6% more. This rate is half a point higher than that of the previous quarter and the highest since the second quarter of 2008. Unemployment fell by 195,200 people between July and September, which represents the largest drop in a third quarter of the historical series. The total number of unemployed people stands at 5,427,700 and the unemployment rate decreases eight tenths, to 23.7%.
From a sectoral perspective, the quarter-on-quarter increase in the number of employed persons has been concentrated in the non-agricultural sector, with increases of 108,800 in services, 71,800 in industry and 43,500 in construction. In contrast, agriculture recorded a reduction of 73,100 jobs. Compared to a year earlier, the level of employment increased in services, with 230,700 more employees, and in industry, with 82,100, while construction lost 5,600 and agriculture 33,200. Construction moderates the rate of decline 4.8 percentage points, to 0.5%, while agriculture accentuates it three points, to 4.8%.
By age group, the greatest increase in employment was registered in groups of 40-45 years (54,000 more employed) and 55 and over (53,600). Considering the professional situation, the quarterly advance of employment has corresponded in 95,700 to the salaried employees and in 58,500 to the non-salaried employees. The increase in employment has been concentrated in the private sector, 154,900 more jobs, while in the public it has decreased by 3,900 people. Compared to a year earlier, the private sector increased its staff by 291,600 and the public reduced it by 17,700, with interannual rates of 2% and -0.6%, respectively.
The quarterly increase in employees has corresponded to workers with temporary contracts, 122,400 more, while those with permanent contracts have decreased by 26,700. After this result, the temporary employment rate rose 0.6 points compared to the second quarter, to 24.6%. In relation to a year earlier, workers with permanent contracts increased 1.3%, compared to the more moderate advance of the previous quarter (0.3%), and those with temporary contracts grew 4.6%, a rate lower by 1 , 9 points to that of the second quarter of 2014.
Full-time employed persons increased by 370,700 in the third quarter, while part-time employed persons decreased by 219,700. Compared to the same period in 2013, full-time registered a rate of 1.8% and part-time rate of 0.4%. This implies an acceleration of one point in the first group and a deceleration of 2.2 points in the second. After these results, the weight of part-time workers over the total has decreased 1.4 points in the quarter, placing the bias rate at 15%.
Unemployment decreased by 195,200 people in the third quarter of 2014, which is the biggest drop in a third quarter of the homogeneous historical series. After this result, the total unemployed stands at 5,427,700 people and the unemployment rate drops eight tenths, to 23.7% of the active population. Compared to a year earlier, unemployment has decreased by 515,700 people, 8.7%, compared to 1.7% in the second quarter. The quarterly drop in unemployment has affected both men and women. In the first group it decreased by 138,700 people, with an unemployment rate of 22.5%, and in women it fell by 56,500, with a rate of 25%.
By branches of activity, unemployment decreased compared to the previous quarter in all economic sectors, except in agriculture, where it increased by 24,200 people. The greatest reduction took place in services (85,700), followed by construction and industry, with 32,000 and 19,000 fewer unemployed, respectively. In the group of people who lost their jobs more than a year ago, unemployment decreased by 122,300 people, while the unemployed seeking first job increased by 39,700.
The number of households with all their active members unemployed has decreased in the third quarter by 44,600 and the number of households with all their active active members has increased by 165,400.
The active population decreased by 44,200 people in the third quarter, in line with the path of consecutive decreases started in late 2012 and interrupted in the second quarter of 2014. Compared to a year earlier, this record has decreased by 241,700 people, the 1 %, same as in the previous quarter. It responds above all to the decrease in the foreign active population. The quarter-on-quarter drop in the labor force together with the stabilization of the population aged 16 or over has translated into a slight reduction in the activity rate, one tenth, to 59.5%.
The EPA for the third quarter of 2014 confirms the favorable results anticipated by Social Security affiliations and registered unemployment corresponding to the same period. The number of employed persons grew in interannual terms for the second consecutive quarter and at an accelerated rate, the number of unemployed decreased to a record in the historical series for a third quarter and the unemployment rate fell. These data underpin the recovery of the Spanish economy despite a less favorable European environment and represent a fundamental support for the evolution of private consumption and economic activity. It is a trend that we hope will continue in the coming quarters.
