Unemployment falls to lowest November level since 2007

Unemployment in Catalonia dropped in November to its lowest level for this month since 2007.

According to data released on Tuesday by Spain's labor ministry, the total number of unemployed now stands at 332,532, a reduction of 2,300 compared to the previous month.

This figure represents a 0.7% decrease from October and a 2.2% drop compared to November last year.

However, the labor market has slowed its growth momentum seen in recent months.

Social security affiliates decreased by 5,800, bringing the total to 3,797,044, a 0.15% decline from the previous month.

This marks the first decline in employment figures in two months, with employment levels moving slightly away from the record highs reached during the summer.

Nevertheless, compared to the same month in 2023, employment grew by 83,688 workers, reflecting a 2.25% increase.

By activity, all sectors recorded a decrease in unemployment. Services were those with more unemployed, followed by agriculture, industry and construction. 

Spain shows same trend

Across Spain, unemployment fell by 16,000 people to reach the 2,586,000 unemployed, also the lowest figure for this month of the year in nearly two decades. 

The number of people on social security also decreased, in this case by 30,000 people to reach the 21,300,000 working people. 

Despite the slight decrease, it is still the highest number of people affiliated with local security for the month of November.