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Spain News Today

Spanish news in English

Thursday, October 17, 2024

Spain's Job Market Shows Mixed Signals

Published: 2024-10-02

In September, Spain's labor market displayed a mix of positive and negative trends.

The number of unemployed rose by 3,164, marking the smallest increase for this month since 2007, excluding the pandemic years.

This rise is significantly lower than the 19,768 increase seen in September last year.

Meanwhile, the Social Security system added 8,805 new affiliates, the slowest growth for a September since 2019, reflecting a deceleration in job creation.

Despite the seasonal rise in unemployment due to the end of summer contracts, sectors like construction, agriculture, and industry saw reductions in unemployment.

However, the number of unemployed youth under 25 increased by 15,027, highlighting challenges for young job seekers.

The data also showed a gender disparity, with more women becoming unemployed compared to men.

Overall, while the labor market faces challenges, there are signs of resilience, particularly in sectors with higher value-added jobs.