Recorded unemployment fell by 13,538 in February, the largest fall in 14 years

The number of unemployed registered with the Public Employment Services in Spain fell by 13,538 in February 2015, putting the total figure at 4,512,153. This is the best figure for unemployment in a month of February since 2001. In the last 7 years, recorded unemployment in February has increased on average by 90,000 people.

​In seasonally-adjusted terms, unemployment fell by 49,653. This is the best February figure since current records began. With the exception of July 2014, the number of unemployed in seasonally-adjusted terms has been falling month by month since May 2013 and has now fallen for the last 22 months straight.

In the last 12 months, recorded unemployment has fallen by 300,333, the largest year-on-year reduction to unemployment in a single year since 1999, with a 6.24% year-on-year rate of reduction. 

By sector, unemployment among workers whose latest activity was in the construction sector fell by 10,091 (1.9%), in industry by 6,535 (1.4%) and in the services sector by 223. Meanwhile, unemployment among workers from the agriculture and fisheries sector increased by 467 (0.2%). Finally, the number of first-time job-seekers rose by 2,844 (0.8%).

Recorded unemployment fell in 14 autonomous regions, led by Cantabria (-3,242), the Balearic Islands (-2,771) and Extremadura (-2,666). In contrast, unemployment rose in three regions, led by the Region of Madrid (2,411 and Andalusia (2,121)

Permanent employment contracts rose by 23%

The number of new employment contracts recorded in February amounted to 1,226,950. This represents an increase of 12.47% on the same month of 2014.

A total of 120,281 permanent employment contracts were recorded in February 2015, an increase of 22.98% on February 2014. The year-on-year increase in permanent full-time employment stands at 30.58%.

Training and apprenticeship contracts increased by 23.8% year-on-year in February with 11,247 such contracts reported. In addition, 5,676 work experience contracts were signed, a year-on-year increase of 36.3%. There were a total of 2,416,786 unemployment benefit recipients in January 2015, with the amount of benefits paid out by the system amounting to 1.96 billion euros.

Solid trend in job recovery

The State Secretary for Employment, Engracia Hidalgo, stressed that the data published on Tuesday "clearly show the positive trend of the labour market" and are in line with recent trends in the Spanish economy as a whole.

"This solid trend inspires us to continue working so that the recovery of stable and quality employment increasingly affects a greater number of people in our country", remarked Engracia Hidalgo, who reiterated her wish to see 2015 as the year that saw a boost in job recovery.