November Records Drop in Unemployment

December 10th, 2013

November Records Drop in UnemploymentRecorded unemployment in November fell by 2,475 over the previous month. This is the first time that recorded unemployment has fallen in November since current records began.

According to the data contained in the records kept by the State Public Employment Service, the number of unemployed now stands at 4,808,908. Recorded unemployment has fallen by 98,909 over the last twelve months. Hence, the year-on-year rate of change – which posted a fall in unemployment last month for the first time since May 2007 (-0.46%) – now stands at -2.02% and has fallen by 14.5 points since May 2012.

Recorded unemployment has fallen by 38,723 people so far this year, compared with an increase of 485,458 in the same period last year. This is the best result since 2006. GDP was growing at a rate of 4.2% year-on-year at that time, whereas the latest data on the third quarter of 2013 show a year-on-year decline of 1.1%.

Seasonally-adjusted unemployment fell for the fourth consecutive month by 40,885. This is the largest reduction in the month of November and the second-largest since current records began. No consecutive reduction in the months of August, September, October and November had been recorded since 2006.

Unemployment fell among workers whose most recent activity was in the construction sector (11,932 workers or -1.81%) and the industrial sector (4,306 or -0.84%). Unemployment rose among workers in the service sector (8,484 or 0.28%) and the farming and fisheries sector (4,390 or 2.15%). The number of first-time job-seekers rose by 889 (0.23%).

Recorded unemployment among the under-25s has fallen by 34,047 over the last 12 months, which is a year-on-year reduction of 7%.

Unemployment among women has increased by 1,060 while unemployment among men fell by 3,535. The latter accounts for 48.44% of the total recorded unemployment while the former accounts for the remaining 51.56%.

Nine autonomous regions recorded drops in unemployment, including the region of Valencia (-8,329), Andalusia (-4,897) and the Basque Country (-3,567). Meanwhile, recorded unemployment rose in another eight regions, led by the Balearic Islands (9,012) and Catalonia (4,512).

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