Unemployment hits lowest figures since 2008

The number of registered unemployed workers in Catalonia is now at its lowest level since August 2008. 

May saw the number of registered jobseekers fall by 16,671, a drop of 4.57%, leading this figure to dip below 350,000 for the first time in 14 years. 

In total, there were 348,027 registered jobseekers in Catalonia in May, according to figures released on Thursday by the Spanish ministry of labor. 

This registered unemployment figure in Catalonia has fallen each month since the beginning of the year. 

During May, 257,021 new contracts were signed in Catalonia, of which 121,847 (47%) were indefinite. Compared to 2021, unemployment has reduced in Catalonia by 133,790 registered people, a decrease of 27.7%. 

At the same time, the Catalan economy has generated 164,177 more jobs.

Across Spain, the number of unemployed workers in the country fell below 3 million for the first time since 2008. In total, unemployment fell by 99,512 people compared with April. 

The new data published shows that "the boost in the stability of the labor market is confirmed and consolidated," Enric Vinaixa, a Catalan government official. 

Two ways of calculating unemployment

The figures differ from those from the latest Labor Force Survey (EPA in Spanish), which is published every three months. The variation in the figures can be attributed to the different methods for gathering data.

The work ministry figures, published in this article, are based on the number of jobseekers registered with the Employment Service, while the EPA figures are taken from surveying a broad sample of 65,000 households, or some 200,000 individuals, all over Spain.

According to the latest EPA, showing figures for the first quarter of 2022, the jobless rate in March 2022 stood at 10.23%, two and a half points lower than a year before: 12.9%. 

There were 394,200 unemployed people at the end of March, which means 105,500 fewer than a year before.