In the second quarter, the unemployment rate dropped to 20.9% (4.8 million people), which was down from the 14-year high of 21.3% recorded in the first quarter. The decline mainly reflects the beginning of the summer season, which brings with it a temporary spike in tourism sector employment. Despite the drop, unemployment remains above the 20.1% registered in the same period last year. According to the survey, the economy generated 151,400 jobs, reflecting a notable increase of jobs amongst women. Job creation in services and industry compensated for the slack in the construction and agricultural sector, thus driving the level of unemployment down. Spanish Finance Minister Elena Salgado stated on 29 July that the second quarter result marked the first notable improvement since 2007, and expects a positive change in the unemployment trend as the improvement in the industrial sector is not dependent on seasonal factors.
Unemployment eases in the second quarter
July 29, 2011
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Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).