Madrid Leads The Way In Spanish Job Recovery

The Madrid region is leading Spain in job recovery according to the latest unemployment figures released today, Tuesday 3rd January.

The figures show that Spain´s unemployment rate is at it lowest point in 15 years.

However although the number of jobless fell by 1.52%, or by 43,727 people in December there are still 2.84 million people out of work, which at 12.67% of the working population, is the highest of any G20 country.

The official government figures show wide regional variations but the trend is clearly down with Madrid leading the way with a 2% monthly drop and an impressive fall of 19% since December 2021.

Madrid also leads the way in job creation with a 3.9% increase over the last year – nearly double the national average.

The Labour Minister, Yolanda Díaz, said that the improved figures “shows that labour protection measures are working”.

The total number of unemployed fell below the symbolic 3 million barrier in June for the first time since before 2008 financial crisis.

The Minister for Inclusion, Social Security and Migration, José Luis Escrivá, said that “the year that has just ended has been very positive for employment, despite the complicated international situation”.

The Socialist coalition government passed significant labour reforms in February 2022 in an effort to make jobs more secure and  limited most temporary contracts to a maximum of three months as well as bringing back collective bargaining with unions to negotiate pay and conditions.

Youth unemployment ( under 25s) fell by 5.86% in December, by 12,185 people, compared with the previous month and reaching a record low of 195,751 people.

‘The youngest workers have benefited the most from the approval of the labour reform, signing 1.9 million more contracts than in 2019,’ Díaz said.

Photo Credit: Yolanda Garcia


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