Spanish Unemployment Falls In February With 11,394 Back In Work
Spain News
Published: 02 March 2022 17:56 CET
Spain's economy has been given a welcome boost with the number of unemployed falling by 11,394 in February according to the latest data from the country’s ministry of Inclusion, Social Security and Migrations.
It means that the country has seen its largest fall in unemployment for the month of February since 2015, suggesting that the Spanish economy is on the road to recovery post-Covid pandemic.
Year on year, the number of unemployed has fallen 897,105 (-22.38%) when compared to February 2021 representing the largest fall in the historical data.
When compared to February 2020, the last month prior to the start of the pandemic, the number of unemployed has fallen by 134,000.
In seasonally adjusted terms, where the statistics reflect how the labour market has performed discounting seasonal patterns, unemployment fell by 37,726 boasting ten consecutive months of improvements.
The latest reduction means that the total number of Spanish citizens now registered as out of work stands at 3,111,684.
This is the lowest number total for the month of February since the financial crisis began in 2008.
According to the official data, the number of social security affiliates grew by 67,111 taking the total number of employed workers to a new historical maximum of 19, 694,272.
Unemployment by economic sectors
In terms of economic sectors, the Services sector fell by 11,238 (-0.51%) compared to January, Construction by 7,199 people (-2.87%) and Industry by 2,625 people (-1.03%).
Unfortunately, the Agriculture sector saw a rise in unemployment by 6,543 (+4.41%) with the group Without Previous Employment ending February with 3,125 more registered people (+1.27%).
Unemployment by sex
The number of unemployed females fell by 816 people (-0.04%) in comparison to January with the total number out of work standing at 1,840,647. When compared to the same month in 2021, the number of females out of work has fallen by 464,132 (-20.14%)
Male unemployed saw the biggest monthly decrease, down 10,578 (-0.83%) bringing the total to 1,271,037. Year on year, the number of unemployed males has fallen by 432,973 (-25.41%).
Unemployment by autonomous regions
In another positive boost to Spain’s economy, it means that in year-on-year terms, the number of unemployed citizens has fallen in all of the country’s autonomous communities.
Registered unemployment in the month of February fell in 9 Autonomous Communities compared to the month of January, with Madrid (-15,770), the Canary Islands (-2,022) and the Balearic Islands (-1,931) seeing the biggest falls.
Source
https://prensa.mites.gob.es/WebPrensa/noticias/laboral/detalle/4077
https://www.20minutos.es/noticia/4964561/0/el-paro-vuelve-a-bajar-tras-la-subida-del-mes-pasado-y-febrero-registra-un-record-historico-de-contratos-indefinidos/
Image Credit: Joaquín Pérez Rey, Secretary of State for Employment and Social Economy - Source https://prensa.mites.gob.es/
