- The number of unemployed stands at 5.904 million and the unemployment rate drops three tenths, up to 25.98%
- The private sector creates 52,000 net jobs, while the public loses 12,600
Unemployment has dropped by 72,800 people and 39,500 jobs have been created in the third quarter of the year compared to the second, according to the Active Population Survey (EPA) published today by the National Statistics Institute (INE). These data contrast with those of a year earlier, in which unemployment increased by 85,000 and employment was reduced by 97,000 people. In the last year, 497,100 jobs have been lost, -2.9% compared to -3.6% in the previous quarter. The total number of unemployed people stands at 5,904,700 and the unemployment rate drops three tenths, to 25.98%.
By sectors, job creation is concentrated entirely on services, with an increase of 123,900 jobs. In contrast, agriculture loses 55,000 jobs; industry, 19,700; and construction, 9,700. With respect to a year earlier, all major sectors of activity lose employment, with the service sector (197,400) in the first place. However, this sector slows down its year-on-year rate of decline, by 1.2 percentage points, to -1.5%; construction also moderates the pace of annual decline, while industry and agriculture intensify their year-on-year rates of decline.
The increase in employment comes entirely from the private sector with 52,000 new net jobs, while the public sector continues to destroy employment in 12,600 workers during the third quarter. This is the first time since 2007 in which private employment has increased in this period. Regarding public employment, there have been strong increases in previous years (2009 and 2010), although discontinuously and in the context of initiatives with a strong negative impact on the public deficit.
Based on the professional situation, the quarterly increase in employment is distributed at 23,200 for wage earners and 15,200 for non-wage earners. According to employment stability, workers with an indefinite contract decrease by 146,300 and temporary workers increase by 169,500. In relation to a year before, workers with an indefinite contract decreased by -3.8% (the rate of fall is moderated by 0.2 points) and those with temporary contracts fell by -2.3% (below -6 , 9% of the second quarter). The temporary rate rises to 24.3%, 1.2 points more than the previous quarter and three tenths above that of a year earlier.
In terms of working hours, full-time employees increase by 207,700 in the quarter, while part-time employees decrease by 168,200. With respect to the same period of one year earlier, full-time ones decrease -4% and part-time ones increase 3.9%. These rates mean a slowdown of 1.3 points in the fall for the first group and a moderation of the growth rate of 2 percentage points in the second. The weight of part-time workers over the total decreases one point in the quarter (up to 15.4%) and increases in that same magnitude compared to a year earlier.
The active population continues the downward trend and decreases by 33,300 people in the quarter (-0.15%). With respect to a year earlier, the fall is 370,400 people, -1.6%, compared to -1.5% in the previous quarter. The decline of the active population responds to a decrease in the population over 16 years of 85,200 people compared to the second quarter. The activity rate shows a slight increase (five hundredths), standing at 59.6%, due to the evolution of the activity rate of men that rises three tenths and stands at 66.42%. In contrast, that of women is reduced by two tenths, up to 53.1%.
The unemployment drops by 72,800 people, compared to an increase of 85,000 in the same quarter of the previous year. This is the largest drop in unemployment for a third quarter since 2005 and is also the third largest decline in importance for a third quarter of the historical series. In this way, the total unemployed stands at 5,904,700 people and the unemployment rate decreases by 0.3 points, to 25.98% of the active population. The fall in unemployment especially affects women, with a decrease of 68,700 people, so that the unemployment rate of this group falls by just over half a point, to 26.6%.
The Autonomous Communities where the occupation has grown the most in the previous quarter have been Catalonia (52,300 more employed), Balearic Islands (23,900) and Aragon (11,600). In the first two it is also where unemployment has fallen to a greater extent. The communities with the worst occupational behavior were Andalusia (with a loss of -52,300), Madrid (-43,800) and the Basque Country (-17,700).
The results of the third quarter EPA are moderately positive, given the increase in employment and the fall in unemployment. They are also consistent with the new phase of economic recovery and compatible with the Government's forecasts for the year. The occupation is expected to first stabilize and subsequently register increasing positive rates throughout 2014, as economic growth consolidates. For this, it is necessary to persevere in the current design of economic policy, specifically, fiscal consolidation and structural reforms, together with the effort to moderate income and prices. This is the guarantee of maintaining competitiveness gains, improving the foreign sector and increasing confidence in the economy.
