Unemployment undergoes biggest annual reduction in almost 20 years

Throughout the course of the year, the number of those without a job fell by 354,203, which is 7.96% fewer than 12 months earlier.

This is the third consecutive year that the unemployment rate has dropped, and, according to the Department for Employment and Social Security, this year’s reduction is the largest since records began in 1996.

So, at the close of 2015, a total of 4,093,508 people were registered as without work, after the figure was reduced in December by 55,790 people. This figure is actually less than in 2014, when 64,405 people managed to secure a job in December. In 2013, the figure was 107,570 and in 2012, 59,094.

During the year as a whole, unemployment has fallen by 354,203 people. This is the third year in a row after the level began to drop in 2013 (-147,000) and then again the following year by 253,000. Before that unemployment levels rose continuously each year between 2007 and 2012.

This year’s rate of -7.96% is the highest drop in unemployment levels since 1996.

And, unemployment fell for both men and women, although at double the rate for the former. Currently, 2,218,273 women are out of work compared to 1,875,235 men.

With regards to the various sectors, each one saw their unemployment levels reduced. This was particularly apparent for the services sector, followed by construction, industry and agriculture.

It’s still tough going for the under 25s, as only 45,773 found a job this year compared with 308,430 over 25s. This is the reason why many young adults are still leaving the country in search of employment and opportunities outside of Spain.

Nevertheless, unemployment was reduced in 2015 in every single autonomous region, which is extremely positive news.

The largest annual reductions in the number of people without work were registered in Cataluña (-60,280), the Valencia Region (-49,174), Andalucía (-46,709) and Madrid (-46,297). The smallest reductions, on the other hand, were seen in Cantabria (-984) and La Rioja (-3,460).

Source: www.europapress.es