Spain registers first October unemployment drop in 46 years
The unemployment figures for October in Spain are exceptional. Not only because unemployment drops, although not much, but because it does so in October, a month that is not usually conducive to the creation of jobs after the end of the summer season.
According to data published by the Ministry of Labor and Social Economy, the number of unemployed people registered with the state employment services (SEPE) fell by 734 in October (0.02%).
This is the first decline in unemployment in October since 1975, the first year for which the Spanish government keeps records.
The coalition government headed by Prime Minister Pedro Sanchez celebrates that with October, registered unemployment has already accumulated eight consecutive months of decline. This is also something unprecedented and that is explained by the reactivation of the Spanish economy after the Covid-19 pandemic.
Since February, the number of people registered on unemployment lists has dropped by 751,721.
To understand the unusual development of the labor market in Spain, it should be remembered that in October 2020 unemployment rose by 49,558 people compared to the previous month. And in 2019, before the global pandemic, unemployment in October increased by 97,948 people.
More unemployment in agriculture
By economic sectors, unemployment fell in Services by 4,683 people (-0.20%), in Construction with 4,523 fewer registered people (-1.74%). In Industry it fell by 847 people (-0.32%).
By contrast, unemployment increased in Agriculture with 7,577 more unemployed people (5.10%). The government says that this rise is due to the seasonality of agricultural activity.
Finally, the group of people without previous employment also increased by 1,742 people (0.63%).
Less unemployed women
Unemployment decreased slightly in October among women (-0.19%) but increased by a very small percentage among men (0.22%).
The number of unemployed people decreased in eight Spanish regions. The biggest falls were in Madrid, the Canary Islands, Castilla y León and the Valencian Community.
On the contrary, unemployment increased in the regions of Andalusia, the Balearic Islands and in Castilla-La Mancha.