Unemployment in Spain low 20% for the first time in six years – Teletrece

AFP

The rate of unemployment in Spain fell 20% for the first time in six years, to stand at 18.9% in the third quarter of 2016, said Thursday the National Statistics Institute (INE).

These results represent a decline of 1,09% compared with the previous quarter and of 2.27 points in a year. The improvement in employment is due mainly to the services sector, according to the INE.

The fourth largest economy in the euro zone continues its reduction of unemployment, which during the crisis soared from 8% of the active population in 2008 to reach 26% in mid-2013.

this Is the first time that the unemployment rate decreased 20% from the third quarter of 2010, although the figure remains the second-worst of the euro zone, where the average is 10.1% according to Eurostat.

In total, the number of wage-earners in Spain grew in this quarter in 216.800 people. However, the number of indefinite contracts fell in 29.100 while increased in 245.900 employees with temporary contracts.

The sector that created more jobs was the one of the services (178.000), benefited from the golden era that lives on tourism in Spain, picking up business lost in other mediterranean destinations impacted by the instability and insecurity as Turkey, Tunisia or Egypt.

followed by the industry (34.200) and construction (29.900), while the number of employees in agriculture fell in of 16,300 people.

The announcement of these statistics coincides with the debate of investiture of the head of the conservative government of Mariano Rajoy, who almost certainly will be selected on Saturday in the parliament for a new term of office, ending a political blockade of ten months.

The conservative leader made the recovery of the Spanish economy, which grows at rates close to 3% per year after six years of crisis, and the decline in unemployment that began in his first term (2011-2015) their main argument for re-election.

But much of the opposition criticized for having done so at the expense of the casualisation of employment through a controversial labour reform that eased the firing of workers.