Unemployment Rate in Spain Up to 25.02% in Q3

The number of unemployed persons in Spain increased by 85 000 persons and stands at 5.78 million. The unemployment rate increases 38 hundredths, standing at 25.02% according to a release by the National Statistics Institute.

The number of employed persons decreased by 96 900 persons in the third quarter of 2012, standing at 17.32 million. The quarterly variation rate of employment stood at –0.56%. The quarterly employment rate was negative this quarter, though to a lesser extent than the 146 800 jobs lost the same quarter last year.

The performance of unemployment this quarter, as compared with the same period of previous years, was worth noting in that the quarterly increase of unemployment was lower than that registered in the third quarter of 2011, which had recorded an increase of 144 700 unemployed persons.
By sex, unemployment increased by 9 500 men and 75 500 women. The male unemployment rate increased 11 hundredths, reaching 24.68%, whilst the female rate increased seven tenths, and stood at 25.41%. The composition of unemployment observed since the year 2008 remained practically unaltered, with relatively little distance between the male and female rates, and a greater number of unemployed men than unemployed women. By nationality, unemployment increased by 136,000 Spaniards and decreased by 51 000 foreign nationals. The unemployment rate for the foreign population was 34.84%, 11.5 points higher than that of persons with Spanish nationality (23.32%).  
The economically active population experienced a decrease of 12 000 persons in the third quarter of 2012, standing at 23.10 million persons. In annual terms, the number of economically active persons decreased by 36,200 persons. The decrease in the number of economically active persons in the third quarter of 2012 was slightly greater than that registered in the third quarters of 2010 and 2011. 

INE | Nuno Fontes | nuno@tradingeconomics.com
12/14/2012 12:21:54 PM