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Spain’s July jobless edges up 0.11% from June as uncertainty bites
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(Reuters) -The number of people registering as jobless in Spain rose 0.11% in July from June, by 3,230 people, leaving 2.88 million people out of work, as economic uncertainty began to be felt, the Labour Ministry said on Tuesday.
(Reuters) -The number of people registering as jobless in Spain rose 0.11% in July from June, by 3,230 people, leaving 2.88 million people out of work, as economic uncertainty began to be felt, the Labour Ministry said on Tuesday.
It is the first time since 2008 that unemployment has risen in July, a month when the tourist season usually helps bring unemployment down.
Still, it’s the lowest level in July data since 2008.
“The economic situation is beginning to be felt in the labour market,” Labour Minister Yolanda Diaz said on her Twitter account.
The increase was significant from the middle of the month and onwards, the ministry added in a statement.
“Inflation and the consequences of the war in Ukraine mark an uncertain and complicated scenario. We will not let our guard down: the best way to protect citizens in the face of the crisis is to opt for stable, quality jobs and fair taxation,” she said.
Spain added 9,104 net jobs during the month to 20.11 million, the 15th month of job creation in a row, separate data from the Social Security Ministry showed.
Economy Minister Nadia Calvino told Cadena Ser there was a slowdown in the labour market, but added it could not be compared with figures before the labour reform, as it introduced structural changes in the labour market and the tourism sector had strong hiring since March.
“The volatility of a specific month should not distract us from the big figures,” she said.
(Reporting by Joao Manuel Mauricio in Gdansk and Emma Pinedo in Madrid, Editing by Tomas Cobos and Christina Fincher)
Unemployment refers to the situation where individuals who are capable of working and are actively seeking work are unable to find any employment.
Economic uncertainty refers to a situation where there is a lack of predictability in the economy, affecting investment decisions and consumer confidence.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power.
The labour market is the supply and demand for labour, where employers seek to hire workers and individuals seek jobs.
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