2 Jun, 2022 @ 11:39
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Unemployment in Spain falls below 3 million for first time since 2008

Unemployment in Spain falls below 3 million for first time since 2008
Imagen de Niek Verlaan en Pixabay

JOBLESS totals in Spain have gone below the three million mark for the first time since November 2008.

Figures from the Labour Ministry published on Thursday reported 2.92 million people out of work in May- a 99,512 fall on April’s total.

Unemployment started to climb sharply in 2008 as the global financial crisis started to bite.

It set the foundation for Spain having some of the highest jobless figures in the European Union- especially among younger people.

Many new seasonal jobs have now opened up in the tourism-related sector as the country gears up to welcome international holidaymakers.

Tourism accounts for around 12% of the economy and the lifting of pandemic restrictions has boosted foreign visitor numbers.

Another reason for the improvement is that in the wake of the Covid-19 pandemic, more permanent job contracts are being created, rather than people working in the ‘black economy’ or accepting short-term job offers.

Social Security Minister, Jose Luis Escriva said: “”We are seeing an extraordinary reduction in temporary jobs.”

A key factor in people going for more job security includes previously uncontracted workers missing out on furlough payments during the pandemic.


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