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Date Published: 04/01/2022

ARCHIVED - Spain records largest drop in unemployment in history

ARCHIVED ARTICLE

Unemployment in Spain fell by 782,232 people in 2021

<span style='color:#780948'>ARCHIVED</span> - Spain records largest drop in unemployment in history

While the economy in Spain has been experiencing a quiet and gradual recovery, the Omicron variant has marred Christmas and New Year’s celebrations considerably and taken some of the shine off of the positive events of 2021. Nevertheless, the Spanish labour market has broken one record to be extremely proud of: unemployment has experienced its most significant drop in history as 782,232 people walked off the job seeker line by the end of last year.

With 776,478 new vacancies created last year, Spain can tip its cap to the largest fall in unemployment rate since 2015 during what was undoubtedly a tough year for the entire financial sector.

Overall, unemployment remained at 3.1 million, down 20.12%, while the average occupation stood at 19.8 million, after growing 4.08% compared to the meagre 2.2% of 2019. Of course, things were all the more difficult during the height of the pandemic in 2020, when the number of people out of work fell by 360,105.

The Ministries of Labour and Inclusion have highlighted the fact that unemployment declined in Spain over ten consecutive months last year, the longest period of all time, with a cumulative fall of 902,884 job seekers. On the other hand, 822,802 people have been awarded work contracts since May, marking another eight months of increases.

The President of the Government, Pedro Sánchez, has indicated that these data “once again reflect the progress of the recovery in Spain” and added that “we are not stopping”.

“We will work to combat precariousness and continue creating quality employment,” he stated.

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