MAY 30, 2024

Unemployment drops for second month in a row

Between February and April of this year, 332,000 jobs were created.

The day began with the good news that unemployment had fallen for the second consecutive month, reaching 8.5% in the February-April quarter.

According to the INE (National Statistics Institute), the figure corresponds to a drop of 0.2 percentage points over 12 months, completing two consecutive months of year-on-year decline. 

Among the most positive aspects has been the fact that in the last quarter the number of employed people increased by 332,000 compared to the same period last year, exceeding 9.3 million employed. 

In addition, nearly 550,000 jobs have been created since this Government's term began. In addition to this, the female labor force participation rate and the female employment rate have exceeded the levels they had before the pandemic.

It is worth noting that, according to the INE, in twelve months, there was an increase of 3.7% in the number of employed individuals, influenced equally by both women (4.5%) and men (3.1%).

The sectors that contributed to the increase in the employed population were commerce (5.2%), public administration (13.1%) and transport (6.9%); while by occupational category the increase was observed in formal wage earners (3.8%) and informal wage earners (5.5%).