The number of unemployed in Spain has fallen below the 2.9 million mark for the first time since the financial and real estate crisis broke out 14 years ago. What are the reasons?
The recovery on the labor market in Spain is continuing despite the consequences of the Ukraine war and the energy crisis.
The number of registered unemployed fell by a good 42,000 to around 2.88 million in June compared to the previous month, according to the Ministry of Social Security in Madrid. The value is below the 2.9 million mark for the first time since the financial and real estate crisis broke out 14 years ago.
Peak of the euro crisis: five million unemployed
A little over a year ago, in February 2021, over four million citizens were still registered as unemployed with the authorities. At the peak of the euro crisis in spring 2013, the number of job seekers was a good five million. Since then, unemployment has fallen by more than 40 percent.
The number of employees registered with social security reached a high of almost 20.35 million. Pedro Sánchez’s left-wing government highlighted another record: Of the 1.77 million new employment contracts registered in June, more than 780,000 were permanent. The highest numbers since records began were recorded last November (approx. 280,000) and in January 2007 (255,000).
result of the labor market reform
Labor Minister Yolanda Díaz said on Twitter that this was a consequence of the labor market reform at the beginning of the year. “There is still a lot to do, but we are proving that there is an alternative to precariousness: decent work with rights.” Despite the uncertainty caused by the Ukraine war and inflation, the Spanish labor market provides “strength and stability,” she wrote.
The ministry only announces the absolute figures, the unemployment rate is determined by the statistics authority INE. This was 13.65 percent in the first quarter. That is a good 2.3 percentage points less than in the same quarter of the previous year. Regardless of the good development, Spain still has by far the highest unemployment rate of all 27 EU member states, ahead of Greece.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
