ECONOMY

Ranks of unemployed fall by 14,688 people in November

Jobless claims down and Social Security contributors up, confirming “a change in trend”

The State Secretary for Employment, Engracia Hidalgo, and the State Secretary for Social Security, Tomás Burgos, announced the November job figures on Tuesday morning.
The State Secretary for Employment, Engracia Hidalgo, and the State Secretary for Social Security, Tomás Burgos, announced the November job figures on Tuesday morning.J.J.Guillen (EFE)

Spain’s labor market posted positive figures in November, with jobless claims down by 14,688 people and 5,232 new additions to the Social Security rolls, which is taken as a measure of new workers.

The figures released by the Labor Ministry show there were 4,512,116 individuals registered for unemployment benefits in late November, while 16,695,752 were contributing to the national welfare system.

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Compared with other months of November, which is historically not a good month for job figures, the drop in jobless claims was the largest since 1996. As for new contributors to Social Security, this last month registered the biggest rise since November 2007.

The numbers encouraged the state secretary for employment, Engracia Hidalgo, to say that Spain’s job market is experiencing “a change in trends” that continues to consolidate month after month.

Tomás Burgos, the state secretary for social security, called the November figures “a drastically positive change” compared with recent months of November and said the year-on-year numbers reflected affiliation growth rates “similar to those prior to the economic crisis.”

According to the National Statistics Institute, Spain’s unemployment rate in late September was 23.67%.

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