- 435,900 jobs have been created in the last year, at a rate of 2.36% in the first quarter
- The temporary employment rate stands at 26.11%, 60 hundredths less than in the previous quarter
- The unemployment rate stands at 16.74%, with a decrease of two points in the last year
- The number of households with all assets in unemployment falls by 152,800 and rises by 337,300 who have all occupied
The number of unemployed fell by 458,900 people in the first quarter of the year compared to the same period of the previous year, according to data from the Active Population Survey (EPA) published by the National Institute of Statistics (INE). This is a 10.79% drop, which accumulates four and a half years of unemployment reduction. The unemployment rate remains practically stable compared to the previous quarter, at 16.74% (up 20 cents), and reduced 2.01 points compared to a year ago. In the same period, 435,900 jobs have been created, at an annual rate of 2.36%. More than half of the new salaried employment is undefined (61.7%) and the temporary employment rate stands at 26.11%, 60 hundredths less than in the previous quarter.
The evolution of the labor market reflects that the recovery of the Spanish economy is consolidating at a good pace and is on its way to the fifth year of improving employment levels and reducing unemployment. Unemployment has been reduced since mid-2015 at double-digit year-on-year rates. Jobs are being created at a rate of around half a million per year, which will allow the goal of 20 million employed people to be achieved in 2020. In the first quarter of 2018, the unemployment rate has stood at 16.74 %, more than 10 points below the maximum reached in 2013 and at levels below those of 2009.
The data for the first quarter partly reflects the seasonality of the labor market in Spain. Occupancy decreased by 124,100 people compared to the last quarter of 2017. With seasonally adjusted series, employment increases 0.46% in the inter-quarterly rate, that is, a rate similar to the previous quarter. Temporary employment has been mainly destroyed (128,900 fewer jobs). It lowers full-time employment (in 133,100 people) and increases in part-time employment (in 8,900 people).
The annual comparison eliminates the seasonality component and therefore better reflects the pulse of the labor market. In the last twelve months, 435,900 jobs have been created, at an annual rate of 2.36%. Last year's job creation has focused mainly on the private sector, with 304,000 more employed. In these twelve months, full-time employment increases by 495,900 people and part-time employment has fallen by 60,000 people. The number of employees with an indefinite contract increased by 278,500 workers and with a temporary contract, by 173,000.
As for unemployment figures, in the first quarter of 2018, the number of unemployed rose by 29,400 people, compared to the increase of 17,200 in the first quarter of last year. In this period, unemployment has been reduced among those under 25 (in 42,900). The number of long-term unemployed (people who lost their job more than a year ago) is reduced by 37,400 and 46,900 among those seeking their first job. In the annual calculation, unemployment has been reduced by 458,900 people, of which long-term unemployment has fallen by 296,100 and 52,200 among those seeking their first job. In the last twelve months, the number of households with all their active members unemployed has been reduced by 152,800 and those with all their assets occupied have increased by 337,300.
