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Unemployment reaches its lowest level in 8 years

Unemployment drops by 111,908 people in May, to 2009 levels, and hiring marks a record figure

The number of unemployed registered in the offices of public employment services (formerly Inem) fell in May by 111,908 unemployed compared to the previous month (-3.1%), registering its fourth best record within the historical series, as reported by this Friday the Ministry of Employment and Social Security.

The total volume of unemployed reached the figure of 3,461,128 unemployed at the end of May, its lowest level since January 2009. Social Security recorded its best May in history after gaining 223,192 contributors.

Within the comparable historical series, which starts in 1996, the evolution of unemployment in the months of May has been mostly downward, with cuts in 21 months and only one increase, in May 2008, when unemployment rose by 15,058 people. In the last eight years, unemployment has decreased in May by an average of 82,000 unemployed people.

May of this year has been the fourth largest decrease in this month within the series, only surpassed by those of the three previous years: May 2016 (-119,768 unemployed), 2015 (-117,985 unemployed) and 2014 ( -111,916 unemployed).

In seasonally adjusted terms, unemployment fell in May by 39,566 people, its largest reduction in the historical series in the month of May, according to Employment data. In the last year, unemployment experienced a decrease of 430,275 people, at an annual rate of -11,06%, higher than last month.

It drops more in services and in men

Unemployment fell in May in both sexes, but it did so to a greater extent among men. Thus, male unemployment fell by 68,103 unemployed (-4.4%) and female unemployment by 43,805 unemployed (-2.1%), placing the total number of unemployed women at 1,982,451 and that of men at 1,478,677.

By sector, all of them reduced their number of unemployed in May. Services, driven by tourism, registered 70,994 fewer unemployed people than in April (-2.9%), while construction reduced unemployment by 14,907 people (-4.3%), agriculture by 11,677 (-6.7%); the industry in 10,724 (-3.3%) and the group without previous employment in 3,606 people (-1.1%).

By age, unemployment fell by 12,057 people among those under 25 years of age (-4.3%), while among those over that age it fell by 99,851 people, 3% less compared to April. In year-on-year terms, unemployment among young people under 25 years of age has been reduced by 56,832 people, 17.5%.

Declines in all CCAA

The foreign population reduced its number of unemployed in the fifth month of the year by 18,227 unemployed compared to April (-4.3%). In total, unemployed immigrants totaled 399,568 unemployed at the end of last month, with a decrease of 52,723 unemployed (-11.6%) compared to May 2016.

Unemployment fell in May in all the autonomous communities. The largest decreases were recorded in Andalusia (-23,095 unemployed), Catalonia (-16,261) and Madrid (-9,908).

By province, unemployment fell in 51 of them, mainly in Madrid (-9,908), Barcelona (-9,217) and Cádiz (-6,986) and rose only in the autonomous city of Ceuta, with 295 more unemployed.

Record contracts

The number of contracts registered during the month of May was 2,027,569, the highest figure in the historical series in any month and 15.9% higher than that of the same month in 2016.

In May 2017, 167,267 indefinite contracts were registered, 8.2% of the total, with an increase of 14.7% over the same month of the previous year.

Among the permanent contracts, 96,648 were full-time, 15.8% more than in May 2016, and 70,619 were part-time (+13.3%).

In the fifth month of the year, more than 1.8 million temporary contracts were made, of which 26.9% were temporary due to circumstances of full-time production and 27.7% were work or service contracts, also part-time. complete. For their part, temporary contracts with part-time work accounted for 31.8%.

In the first five months of the year, more than 8.4 million contracts have been made, 11.6% more than in the same period of 2016. Of this amount, a total of 798,337 were permanent contracts, 12.9% more.

Fountain: www.eleconomista.es

Academic Coordinator Financial-Fiscal Area - EIP eLearning training coordinator at MAINFOR - Technological and Educational Innovation

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