Spanish unemployment still on a downward trend
The Spanish economy had almost 19 million people in work at the close of 2017, after rising by nearly half a million in the year, according to the figures provided by the Labour Force Survey.
Employment is growing at an annual rate of 2.65% and has enjoyed four straight years of growth, in line with the upward trend of the economy.
Unemployment fell by 471,100 people and the unemployment rate stands at 16.55%, with a fall of 2.09 points over the last year. The percentage of unemployed out of the active population has fallen by more than 10 points since the worst period of the recession and stands at its lowest level since it started in a fourth quarter. Most of the jobs created in last year are full-time jobs, are permanent employment contracts and are focused in the private sector.
Last year was the fourth straight year of job creation, at an annual rate of around half a million jobs. At the close of last year, there were 490,300 more jobs than in the last quarter of 2016. In total, 18.99 million people were in work in Spain on that date, a figure still below the government’s target of 20 million people in work by the end of this term of office. Jobs were created at a rate of 2.65% last year, which means that largest part of the economic growth translates to new jobs.
The number of households with all their active members in work has dropped to 1,210,500, falling by 177,200 over the last year, while those with all their active members in work have risen by 331,300 to stand at 10,215,000.