Latest Unemployment Figures Show Madrid´s Is Lowest In Spain

December 4, 2021December 5, 2021 Madrid Metropolitan Business, spain news

The latest Spanish employment figures show the largest single monthly November fall to a national level last seen in 2008.

The figures released by the Public State Employment Service (SEPE) last week show a decrease of 74,381 people unemployed in November, representing a 2.28% fall in the number of people registered as looking for work.

The total number of registered unemployed stands at 3,182,687, the lowest figure for the month of November since 2008.

It is also down from pre-pandemic levels: 63,360 fewer people were registered as unemployed in November than in February 2020.

In seasonally adjusted terms, registered unemployment fell by 98,061 people.

November closes the longest cycle of falling unemployment in the historical series with nine consecutive months.

The figures also show a rise in the number of new jobs created with some 2,021,546 new labour contract issued in November, of which 282,981 were permanent ones.

There was also good news for younger workers, which Spain has traditionally struggled with.

Unemployment among young people under 25 fell in November by 11,554 persons (-4.50%) compared with the previous month. The number of unemployed people under 25 has fallen by 120,961 since March, with 16,006 fewer young people unemployed than at the start of the pandemic.

Madrid continues to be among the best placed for employment opportunities and which saw a further fall of over 11,000 in its unemployment rate to 9.2%.