Spain Jobless Rate Rises to 21% in Q1


Spain's unemployment rate edged up to 21 percent in the first quarter of this year, up from a 4-1/2-year low of 20.9 percent in the previous period and beating market expectations of 20.75 percent. The number of unemployed rose 0.3 percent on the quarter while employment fell 0.4 percent.

The first quarter of the year is traditionally a tougher one for jobs, as people hired over the Christmas period get laid off. 

Quarter-on-quarter, employment declined by 64,600 persons to 18.03 million persons, as private employment decreased by 82,100 while public sector added 17,600 jobs. Among sectors, jobs in services (-53,400 persons), construction (-26,900) and agriculture (-2,300) fell while employment in industry rose (+18,000). By region, the largest decreases in the quarter were reported in Madrid (-28,700 persons), Valencia (-12,800) and Galicia (-11,400).

Unemployment increased by 11,900 persons to 4.79 million persons in the three months to March 2016. Unemployment increased in the services (+68,900 persons), agriculture (+36,600) and industry (+10,800) sectors while it was is virtually unchanged in construction.The largest increases occurred in Valencia (+8,600 persons), Castilla y Leon and the Balearic Islands (+8,000 each).

The number of active population went down by 52,700 persons to 22.821 million persons and the labor force participation rate decreased to 59.29 percent.

A year earlier, the unemployment rate was recorded at 23.78 percent.

Spain has the second highest unemployment rate in the EU, after Greece.

INE | Joana Ferreira | joana.ferreira@tradingeconomics.com
4/28/2016 8:34:13 AM