Spain: Unemployment Rises by 527,900 People in 2020

In Spain The labor market has noticed the ravages of the covid in 2020 when registering a rise in unemployment of 527,900 people, which is 16.5% more than in 2019, and a decline in employment of 622,600 workers (-3.1%) , reflecting in both cases the worst annual data from the EPA since 2012. The unemployment rate at the end of 2020 is therefore 16.13%.

The rise in unemployment in 2020 ends a seven-year streak of declines. In the case of employment, it had been growing for six years, since 2014, but the figure for 2013 (-204,200 jobs) is better than that experienced in the year of the Covid.

The unemployment rate stood at 16.13% at the end of 2020, a percentage more than two points higher than in 2019, while the total number of unemployed closed the year at 3,719,800 people and the number of employed persons, at 19,344,300, according to data from the Active Population Survey (EPA) published this Thursday by the National Institute of Statistics (INE).

These figures were reached after unemployment fell by 3,100 people in the fourth quarter of 2020 (-0.08%) and employment increased by 167,400 people (+ 0.87%), its second highest growth since 2005 despite the second and third waves of the pandemic.

The creation of 737,100 jobs in the second half of the year made it possible to recover 55% of the jobs lost during the first part of 2020.

The average annual unemployment rate was 15.5% last year, above the government’s forecasts.

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Spain: Unemployment Rises by 527,900 People in 2020 - /10

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