The unemployment rate is reduced to 11.2%, the lowest in 16 years, and female and permanent employment set new historical highs
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Unemployment fell by 1,200 people in the third quarter of the year, which is 0.04% less than in the previous quarter, while employment increased by 138,300 jobs (+0.6%), reported this Friday the National Institute of Statistics (INE).
At the end of September, the total number of unemployed stood at 2,754,100 people, with the unemployment rate at 11.21%, the lowest since 2008. At the same time, the number of employed people reached a new historical high, with 21,823,000 workers.
The Minister of Economy, Commerce and Business, Carlos Body, has highlighted that the EPA data for the third quarter reflects a “very positive” behavior of the labor market, with “new highs in employment, active population, workers in the private sector.” and reduction in the number of unemployed.
In fact, the active population approached 24.6 million in the third quarter after increasing by 137,100 people between July and September (+0.5%). Thus, between July and September, the activity rate rose by just over one tenth, up to 59.04%.
For its part, the number of employees in the private sector exceeded 18.2 million, a new historical maximum, after increasing by 155,500 workers in the summer months (+0.8%). On the other hand, public sector workers fell by 17,100 people (-0.5%) in the third quarter, reaching a total of 3,540,800 people. In this way, all the employment created in the third quarter was generated in the private sector.
The decrease in unemployment in the third quarter of this year contrasts with the increases recorded in the summers of 2023 and 2022, when unemployment rose by 92,700 and 60,800 people, respectively. In the third quarter of 2021, unemployment decreased by 127,100 unemployed people.
In the case of employment, the number of new employees for the quarter (138,300) is lower than the growth in jobs achieved in the summer of 2023 (+209,100) but higher than that of the summer of 2022 (+77,700).
In the last year, unemployment has been reduced by 140,400 people (-4.8%) and 376,600 jobs have been created (+1.7%), while the volume of assets has increased by 236,100 people (+1%). .
In seasonally adjusted terms, unemployment registered a decrease of 2.39%, while employment rose 0.37% and has now accumulated 18 consecutive quarters of increases.
The volume of inactive people, which in the first quarter of this year exceeded 17 million people for the first time since the pandemic, decreased by 4,500 people in the third quarter (-0.03%), to 17,052,400 inactive people.
PERMANENT WORKERS SET RECORD NUMBER
According to the INE, the number of employees increased in the third quarter by 224,000 people (+1.2%), with an increase in permanent employment of 102,700 people (+0.6), up to 15.6 million workers, new historical maximum, and a temporary rebound of 121,300 employees (+4.1%).
The number of full-time employees increased by 287,000 people between July and September (+1.5%), exceeding 19 million workers for the first time, while part-time employees decreased by 148,700 (-5%). up to 2.79 million people, of which just over two million were women.
NEW MAXIMUM OF WOMEN WORKING
The decrease in unemployment in the third quarter only affected women, since male unemployment increased by 4,100 men (+0.3%). On the other hand, female unemployment decreased by 5,300 unemployed women (-0.3%). With these data, the female unemployment rate decreased by just under a tenth, to 12.54%, while the male unemployment rate fell to 10.02%.
However, the job creation registered in the third quarter was greater among men. Thus, while they gained 114,800 jobs between July and September (+1%), female employment increased by 23,500 workers (+0.2%), reaching a new historical maximum of 10,112,600 employed.
The statistics show that the rebound in employment in the third quarter was greater among foreigners, among whom 73,000 jobs were created (+2.2%), compared to an increase in employment among Spaniards of 65,300 jobs ( +0.3%).
The decrease in unemployment, on the other hand, was recorded exclusively by foreigners, who reduced their number of unemployed by 37,600 people (-5.7%), in contrast to an increase in unemployment among Spaniards of 36,400 people (+1, 7%).
By sector, unemployment rose in the summer in agriculture, with 20,700 more unemployed (+17%), and in the group of those looking for their first job (+41,800 unemployed, +14.6%).
On the other hand, unemployment fell between July and September in several sectors, mainly among the long-term unemployed, with 40,800 fewer unemployed (-3.9%), reaching below one million people for the first time since the first quarter of 2009.
Unemployment in construction also decreased, with 12,300 unemployed remaining (-10.6%); in industry, with 6,900 fewer unemployed (-4.9%), and in services, with 3,600 fewer unemployed (-0.3%).
For its part, job creation in the third quarter affected all sectors, except agriculture, where 38,300 jobs were destroyed (-4.9%). The greatest increase in employment was seen in services, with 152,700 more jobs (+0.9%), reaching a new maximum of 16.69 million employed people. This was followed by industry (+23,400 jobs, +0.8%) and construction, which added 500 jobs in the summer months, (+0.04%).
“In short, these are data that show without a doubt that the reforms and economic policy measures promoted are being effective and are allowing us to have a more dynamic, more stable labor market with a great capacity for job creation. We are also aware, Of course, there is still a long way to go. We have to be ambitious to continue moving forward and improve the daily lives of citizens,” highlighted the Minister of Economy.
LOWER THE AVERAGE NUMBER OF HOURS WORKED PER WEEK
According to the EPA for the third quarter, self-employed workers decreased by 87,800 people (-2.7%) compared to the previous quarter, which placed the total number of self-employed people at 3,150,200 people. In the last year, the group has decreased by 36,600 self-employed workers (-1.1%).
In the third quarter, the total number of effective weekly hours worked by all employed persons rose 0.5% year-on-year, with 617.28 million hours worked, compared to 614.09 million a year earlier.
The average number of effective hours worked per week decreased by 1% year-on-year, to 29.3 hours, in contrast to 29.6 hours in the third quarter of 2023.
In the second quarter of the year, 1,641,000 employees worked from home more than half of the days, which is 108,900 more than in the second quarter of 2023 and the equivalent of 7.6% of the total number of employees. This percentage exceeded 16% at the beginning of the pandemic.
In the third quarter of the year, 1,602,700 employees worked from home more than half of the days, which is 182,600 more than in the third quarter of 2023 and the equivalent of 7.3% of the total number of employees. This percentage exceeded 16% at the beginning of the pandemic.
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