Spanish Unemployment Rate Continues to Fall in Q3


In the third quarter of 2014, Spanish jobless rate edged down to 23.67 percent from 24.47 percent in the previous period. It is the lowest rate since the fourth quarter of 2011 due to strong job creation in the private sector.

In the third quarter of 2014, the number of unemployed persons decreased by 195 200 to 5.4 million. Among regions, Madrid recorded the highest drop (-48 200), followed by Catalonia (-44 000) and Valencia (-26 700).

In the same period, employment rose 0.87 percent over the previous quarter to 17.5 million persons. By region, employment increased the most in Madrid (+ 57 800), Catalonia (+ 44 400) and Illes Balears (+ 30 900 persons).

Private sector employment continues to widen while public employment decreases. In the July to September quarter, there were 154 900 more persons employed in the private sector and 3 900 less in the public. Meanwhile, the services sector added 108 800 new jobs, industry 71 800 and construction 43 500. In contrast, agriculture lost 73 100 jobs. Total active population decreased by 44 200 persons to 22.93 million persons mainly due a fall in foreign labor force.  

Year-on-year, unemployment decreased by 515 700 persons and employment rose 1.59 percent.

Spanish Unemployment Rate Continues to Fall in Q3


Carolina Cunha | carolina.cunha@tradingeconomics.com
10/23/2014 10:30:47 AM