Unemployment fell by 10,968 people in July to its lowest in 15 years

The number of unemployed people registered in the offices of the State Public Employment Service (SEPE), at the end of the month of July, has decreased by 10,968 (-0.41%) with respect to the previous month, chaining five months of consecutive decreases.

The total number of unemployed remains below 2.7 million, specifically it stands at 2,677,874 unemployed and stops. It is the lowest figure for any month since 2008.

In year-on-year terms, registered unemployment fell by 205,938 people (-7.14%). This percentage decrease reflects a very sharp drop given the stable conditions in which the labour market operates, in which the effects of the labour reform are consolidated.

Unemployment by economic sectors

By economic sector, compared to June, registered unemployment fell almost across the board. In Services it decreased by 7,126 people (-0.37%), in Agriculture with 1,861 less unemployed (-1.74%), in Industry by 964 people (-0.45%) and among the Collective Without Previous Employment it decreased in 2,203 people (-0.89%).

On the contrary, it increased in Construction by 1,186 people (0.57%).

Unemployment by sex and age

Unemployment fell, especially among women in the month of July with 5,833 fewer unemployed (-0.36%) in relation to the previous month and stood at a total of 1,618,484.

Male unemployment also decreased by 5,135 men (-0.48%), up to a total of 1,059,390.

If we compare it with July 2022, female unemployment falls by 109,904 women (-6.36%) and male unemployment falls by 96,034 (-8.31%).

Unemployment among young people under 25 years of age decreased in July by 453 people (-0.25%) compared to the previous month. The total of these young people in a situation of unemployment is 184,038, the lowest since there are records. It has been declining for 27 consecutive months in year-on-year terms.

Unemployment by autonomous communities

Registered unemployment fell in 10 autonomous communities, the most pronounced falls in absolute terms occurred in Andalusia (-5,166), Comunidad de Madrid (-2,926) and Galicia (-1,579).

They rise in the 7 remaining communities with Catalonia (1,612), Illes Balears (854) and the Basque Country (796) at the head.

In relative terms, unemployment fell, above all, in Asturias (-2.66%), Extremadura (-1.70%) and Cantabria (-1.59%).

Compared to the previous year, the relative falls in unemployment were found in the Balearic Islands (-16.65%), Extremadura (-10.25%) and Aragón (-9.98%).

Madrid (-3.32%) and Catalonia (-2.94%) are the communities that reduce their unemployment the least.

Contracts

The total number of contracts registered during the month of July was 1,431,383. Of these, 566,440 are permanent employment contracts that represent 39.57% of all contracts. Before the labour reform, barely 8% of these types of contracts were signed during this period, on average.

In accumulated figures, 3,992,820 contracts have been signed for an indefinite period until July 2023, representing an increase of 24,970 (0.63%) over the same period in 2022.

The temporary contracts registered in the month of July 2023 have been 864,943. They represent 104,580 fewer contracts (-10.79%) than the same month of the previous year. In cumulative terms, in the first seven months, 5,101,389 temporary contracts have been registered, which represents a decrease of 2,158,182 (-29.73%) over the same period in 2022.

Benefits in June

The total number of existing beneficiaries at the end of June was 1,694,048.

The coverage of the unemployment protection system during the month of June 2023 was 67.18%, which represents an increase of 9.0% compared to the same month in 2022.

The total investment in benefits in the month of June 2023 amounted to 1,6 billion euro. It is somewhat lower than that of previous months despite the fact that since the beginning of the year the calculation of the benefit has been increased to 60% of the regulatory base.

The average monthly amount per beneficiary, not including the agricultural subsidy in Andalusia and Extremadura, in the month of June 2023 was €1,021.2, which represents an increase over the same month of the previous year of €76.99 (8.1%).

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