Spain Jobless Rate Falls to a New 2008 Low of 16.38%


The unemployment rate in Spain went down to 16.38 percent in the third quarter of 2017 from 17.22 percent in the previous period. It is a new low since the last three months of 2008 when the jobless rate was 13.79 percent. Among regions, Balearic Islands have the lowest jobless rate (9.25 percent) while Melilla (26.16 percent) and Andalusia (25.41 percent) recorded the highest. In Catalonia, the unemployment rate was 12.54 percent and in Madrid it was slightly lower at 12.35 percent.

Considering the whole country, the number of jobless people fell by 182.6 thousand to 3.731 million, also the lowest since the last quarter of 2008. Unemployment went down in services (-96.8 thousand) and industry (-15.6 thousand) but rose in agriculture (+29.1 thousand) and in construction (+4.2 thousand).  

The number of employed increased by 235.9 thousand to 19.049 million, the highest since the third quarter of 2009. Job gains were seen in ises in services (+236.4 thousand), industry (+34.1 thousand) and construction (+21 thousand). In contrast, employment fell in agriculture (-33.2 thousand). By region, the largest increases were seen in Valencia (+47.4 thousand), Catalonia (+46.1 thousand) and Madrid (+40.2 thousand). Employment increased in by 177.6 thousand in the private sector and by 58.3 thousand in the public. 

The number of active people increased by 53.3 thousand to 22.780 million, bringing the labour force participation rate up to 58.82 percent from 58.83 percent.

Spain Jobless Rate Falls to a New 2008 Low of 16.38%


INE | Joana Taborda | joana.taborda@tradingeconomics.com
10/26/2017 7:44:10 AM