ARCHIVED - Record monthly fall in Spanish unemployment during May
3.3 per cent fewer out of work in just one month as Spain begins to emerge from the pandemic
As the coronavirus vaccination campaign maintains its momentum and the pandemic figures improve there is an almost tangible sense of optimism regarding the short-and medium-term future in Spain at the moment, and the mood will have been improved still further by the latest unemployment figures which were published by the government on Wednesday morning.
The data show that during May the number of people registered as out of work fell by 129,378, the largest decrease in a single month since comparable records were first compiled in 1996. In the course of just 31 days the total fell by 3.3 per cent, and although of course the figures are distorted by the fact that last May coincided with the initial pandemic lockdown there is no denying that they indicate that Spain is beginning to emerge not only from the public health crisis but also from the associated economic difficulties.
Not since last summer has the number of unemployed been lower than the latest figure of 3,781,250, and for the first time since the start of the coronavirus crisis the total is below that of twelve months ago: 1.98 per cent lower, to be more precise. On the other hand, it has to be remembered that another 542,142 people are still on ERTE pandemic furlough schemes, possibly until the end of September, and it is by no means certain that they will not return to the ranks of the unemployed between now and the end of the summer, although even this figure is falling month by month as more and more employees are welcomed back to the workplace.
The regional breakdown of the figures shows that the jobless totals fell in all 17 Autonomous Communities of Spain in May, the decreases ranging from -1.8 per cent in the Canaries to -8.2 per cent in the Balearics: it would appear that the all-important tourism and hospitality sector is gearing up for what is hoped to be a busy summer season in the Balearics.
Over the last 12 months, meanwhile, the figures have fallen by as much as 13 per cent in the Basque Country and Galicia, while the year-on-year comparison still shows a slight increase in the regions of the Canaries (6.26 per cent), Madrid (2.1 per cent), the Balearics (0.9 per cent) and Aragón (0.6 per cent).
In the Region of Murcia the 114,167 people registered as out of work represent a decrease of precisely 1 since the end of May 2020!