Sun. Dec 8th, 2019

The Government welcomes that the current unemployment rate is the lowest in ten years

The Government welcomes that the current unemployment rate is the lowest in ten years



The Secretary of State for Economy and Business Support, Ana de la Cueva, stressed today that the current unemployment rate of 14.55% is the lowest in ten years and shows that the Spanish economy remains strong and capable of creating employment, although according to the "maturity" that the economic cycle is reaching.

In statements to the press, he said that the data known today confirm a positive evolution of the labor market, are very close to the scenario expected by the Government and are compatible with the forecasts included in the budget plan just sent to Brussels.

The Executive expects that in the coming months and until the end of the year unemployment will "continue to fall", although in a "more moderate" way, as corresponds to the current phase of the economic cycle, and ensures that the data known today show rates "very dynamic" job creation.

However, and with regard to the possibility of eliminating the subsidy to youth employment (applied to unemployment rates above 15%), he pointed out that we will have to wait until we have the "confirmation" that low unemployment rates are maintained before taking any decision.

In relation to the temporality, which increased by 63 hundredths compared to the previous quarter to 27.43%, has highlighted that it is similar to that of a year ago and explained that in this period of the year usually increases.

In any case, he has assured that the Government will continue working to reduce weaknesses in the labor market, such as the percentage of part-time employees (which fell by 1.09 points in the third quarter, to 13.9%) and the temporality, for make it "more fair and inclusive".

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