27,027 fewer unemployed in Spain in October

by Lorraine Williamson
Unemployment in October

MADRID – Unemployment in October falls by 27,027 people. October is usually a bad month for employment. Only in 2021, unemployment also fell in October, but by only 724 people. 

Despite the uncertainty, despite inflation, employment continues to be created in Spain. In addition, Social Security adds 103,499 affiliates in October. This will reach the pre-pandemic level of job creation. 

The lowest unemployment rate in October since 2008 

After this drop, which ended three consecutive months of unemployment rise, the total number of unemployed stood at 2,914,892 at the end of October. That is the lowest figure in October since 2008, according to data released Thursday by the Department of Labour and Employment

The quality of employment also continues to improve with more permanent contracts. Of all 697,335 new employment contracts, almost half are for an indefinite period. Of this, 38% are full-time, 37% are discontinuous permanent contracts and 24% are part-time permanent contracts. There are now 50% fewer temporary contracts than a year ago. 

Unemployment is falling in all sectors 

Registered unemployment is falling in all economic sectors compared to September. Especially in the service sector, with 16,153 fewer unemployed. Furthermore, it also fell by 11,351 unemployed in agriculture, 4,566 fewer unemployed in construction and 551 in industry. Only the group ‘without previous employment’ increased by 5,594 persons. 

What happens on the last day of the month? 

There is, however, a shadow of these good figures. Many jobs are still being lost on the last day of the month. On 31st October, 300,539 people took to the streets on this day alone. It is the day on which most deregistrations from social security are processed. 

In some sectors, the difference between men and women is large, such as in education. In October, 90,100 women signed an employment contract in education against 13,300 men. It’s a good month for women, but when the school year is over, it’s these women who will once again be listed as unemployed. 

Cogesa Expats

Unemployment fell by 342,176 in the past year. That is 10.5% less, with female unemployment falling by 181,821 females (-9.4%) and male unemployment by 160,355 males (-12.07%). 

By autonomous region 

Registered unemployment increased in seven autonomous communities, mainly in the Valencian Community (+3,050 unemployed), Castilla y León (+1,756 unemployed) and Asturias (+850 unemployed), and decreased in ten regions, mainly in Andalucia (-18,736 unemployed ), Catalonia (-6,322) and Extremadura (-2,670). 

As for the provinces, unemployment fell in 29 of them, led by Almería (-5,519 unemployed), Huelva (-3,659 unemployed) and Seville (-3,322), and rose in 23, mainly in Alicante (+2,953 unemployed), Asturias (+850 unemployed) and Toledo (+752). 

Recorded unemployment among foreigners fell by 4,746 unemployed in October from the previous month (-1.3%), until the total number of unemployed immigrants reached 360,988, which is 57,218 fewer unemployed than a year earlier (-13.7% ). 

Minister: “Very good data” 

Employment Minister Díaz emphasised in statements to TVE on Thursday that the data on unemployment and the number of social security connections for the month of October is “very good data for citizens and very bad for the doomsayers of the Apocalypse”. The minister interprets the figures as “very positive” because October is normally a month in which unemployment rises. 

She also stressed that the numbers show the “good impact” of the labour reform, as 46% of contracts signed last month were permanent. Despite the high number of temporary contracts in Spain being seen by the minister as “a curse”, the percentage has already fallen by seven points and is “very close” to the European average of 15%. 

Also read: Over 300 direct and indirect jobs to be created near Madrid

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