Spain Jobless Rate Lowest Since 2008


The unemployment rate in Spain declined to 14.55 in the third quarter of 2018 from 15.28 percent in the previous period and below market expectations of 14.9 percent. It was the lowest jobless rate since the last quarter of 2008. Among regions, the highest rates were recorded in Ceuta (30.8 percent), Melilla (24 percent) Andalucía (22.9 percent) and Extremadura (21.7 percent) and the lowest in Balears Illes (7.2 percent), Cantabria (9 percent) and País Vasco (9.4 percent). In Catalonia, jobless rate was 10.6 percent and in Madrid 11.9 percent.

The number of unemployed people dropped by 164,100 to 3.326 million, with the highest declines seen in Catalonia (-28,300), Balears Illes (-24,600) and Castilla-La Mancha (-23,800). By age, most decreases were seen for those aged 25-54 (-121,600); those with more than 55 (-48,600) and those aged 16-24 (-1,900). Meanwhile, unemployment among people aged 20-24 rose by 8,000.

Employment went up by 183,900 thousand to 19.528 million. Job gains were seen in services (+210,200), construction (+24,900) and industry (+2,800) while the agricultural sector lost 54,000 jobs. Jobs in the private sector went up by 134,200 to 16.360 million and the public one by 49,7 00 to 3.168 million. Among regions, Illes Balears (+47,500), Catalonia (+33,500) and both Canarias and Castilla-La Mancha (+22,700) added the most jobs. 

The number of active people increased by 19,800 thousand to 22.854 million.

Spain Jobless Rate Lowest Since 2008


INE | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/25/2018 7:52:57 AM