March 6, 2021

EPA: Unemployment falls by 123,600 people in the second quarter and the unemployment rate stands at 14.02% | Economy

Unemployment has fallen in the second quarter of the year. The number of unemployed has dropped in 123,600 people between April and June and the unemployment rate has remained at 14.02%. The numbers on the employment side have also been positive, increasing jobs by 333,800, according to the Active Population Survey (EPA) published by the National Statistics Institute.

Although the EPA figure shows a positive balance at first glance, the job creation data is the lowest since 2016 and confirms the slowdown that Social Security affiliation data had been anticipating. Also the drop in unemployment is the lowest in recent years. We have to go back to 2012, when unemployment grew, to find a worse fact.

Are the data negative then? In fact, the size of the labor market greatly influences and the worsening is more related to the significant increase in the labor force than to the cooling of the labor market, since the number of people of age and willingness to work increased by 210,100 in the last quarter and returned the number of assets above 23 million.

The second quarter of the year is traditionally the period of the year in which more employment is created. Holy Week, the beginning of the high season in tourism and hiring for many seasonal jobs and summer substitutions boost the occupation.

Tug of services and industry

Occupation increases this quarter in the services sector (313,200 more) and industry (56,000). On the contrary, it falls in agriculture (30,400 less) and in construction (–5,000). In the last year there are 371,200 more employed in Services, 61,100 in Construction and 41,700 in Industry. In Agriculture, the occupation drops by 13,200 in the last 12 months.

Unemployment falls by 123,600 people in the second quarter and the unemployment rate stands at 14.02%

The largest increases in employment this quarter are in the Balearic Islands (62,600 more), Madrid (61,100) and Catalonia (40,200). In the last year the occupation increases in almost all the communities. Community of Madrid (105,700 more), Andalusia (103,400) and Catalonia (70,700) show the highest increases.

This contracting is usually temporary and this can be clearly seen in the temporary rate during the spring and summer months. In the last quarter, this percentage, which measures the ratio between the number of employees temporarily hired and the total number of employees, stood at 26.36%.

(tagsToTranslate) unemployment (t) low (t) low (t) 123,600 (t) person (t) second (t) quarter (t) rate (t) unemployment (t) remain (t) 14 (t) 02% (t) number (t) occupy (t) rise (t) 19 (t) 8 million (t) spring

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