LAS PALMAS DE GRAN CANARIA, 3 Sep. (EUROPA PRESS) –
The count of registered jobless individuals at public employment service offices in the Canary Islands dropped by 443 in August compared to the preceding month, totalling 163,045 unemployed, which equates to a decrease of 0.27 percent.
With this decline in August, unemployment in the region has been on a downward trend for four consecutive months, based on data released by the Ministry of Labour and Social Economy.
Additionally, this reduction in the unemployment figures positions the Canary Islands as the area with the most significant decrease in unemployment in absolute terms, followed by Extremadura and La Rioja, which saw reductions of 365 and 130 individuals, respectively. Conversely, Catalonia experienced the largest rise with 8,707 additional unemployed, succeeded by the Valencian Community (+3,459) and the Basque Country (+3,298).
The overall tally of unemployed in the Canary Islands represents the lowest figure for a month of August since 2007. Since the commencement of the comparable historical series in 1996, the Canary Islands have recorded a decline in unemployment in August on the majority of occasions (21 times) while it has only increased on 7 instances, with the decrease witnessed last month being the smallest drop since 2020.
Over the past year, the number of unemployed has also decreased by 9,884 in the Canary Islands, marking a fall of 5.7 percent.
By sector, unemployment declined in Services, with 319 fewer (-0.25%); those without previous employment showed a reduction of 96 (-0.77%); Agriculture saw a decrease of 93 (-3.18%); and Industry reported 36 fewer (-0.6%). Meanwhile, Construction experienced an uptick with 101 additional unemployed (+0.69%).
As the month concluded, the sectors exhibiting the highest unemployment were Services (127,142) and Construction (14,645), whereas the sectors with the least unemployed included Agriculture (2,835), Industry (5,972), and those without preceding employment (12,451).
In relation to gender, out of the 163,045 unemployed recorded in August, 94,274 were women, which is a decrease of 173 (-0.2%), while 68,771 were men, representing a reduction of 270 unemployed compared to the previous month (-0.4%).
Unemployment among youngsters under 25 saw an increase, with 137 more jobless than at the end of the preceding month (+1.7%), while unemployment amongst individuals aged 25 and older fell by 580 (-0.37%).
The unemployment rate dropped in both provinces, with the most considerable reduction being in Las Palmas (-298), whereas Santa Cruz de Tenerife saw a decrease of 145.
6.6% MORE EMPLOYMENT IN THE CANARY ISLANDS
In August, 56,739 contracts were documented in the Canary Islands, marking a 6.6% increase compared to the same month the previous year. Among these, 23,408 were permanent contracts, which is 0.6% less than in August of the previous year, while 33,331 were temporary contracts (12.4% more).
Of the contracts registered in August, 58.74 percent were temporary (up from 58.55% in the prior month) and 41.26 percent were permanent (down from 41.45% the previous month).
UNEMPLOYMENT RISE BY 21,884, THE LOWEST INCREASE FOR THIS MONTH SINCE 2016
The number of registered jobless individuals rose by 21,884 in August compared to the preceding month, translating to an increase of 0.8 percent in percentage terms.
Following the August rise, primarily driven by the services sector, the total number of unemployed reached 2,572,121, the lowest figure for a month of August since 2008, as highlighted by the Ministry.
The rise in unemployment during August is the smallest increase for this month since 2016, when unemployment rose by 14,453 individuals, representing the best August record since 2021, when unemployment decreased by 82,000 people.
Since the beginning of the comparable historical series in 1996, unemployment has reduced in August on 23 occasions and has increased on six, notably in 2008, when it rose by 103,000 due to the financial crisis. The largest drop in a month of August occurred in 2021, with 82,583 fewer unemployed.
In seasonally adjusted terms, registered unemployment decreased by 7,724 individuals in the eighth month of 2024.
Over the past year, unemployment has declined by 130,579 individuals, representing a 4.8% decrease, with female unemployment reducing by 78,783 women (-4.8%) and male unemployment declining by 51,796 men (-4.8%).
UNEMPLOYMENT RISES AMONGST BOTH GENDERS, WITH SERVICES LEADING
By sector, unemployment solely saw a reduction in agriculture in August, with 2,337 fewer unemployed (-2.6%), while all other sectors experienced increases. The most significant monthly rise was in services, with 20,189 more unemployed (+1.1%), accompanied by construction, which saw an increase of 4,187 unemployed (+2.1%), and industry where unemployment rose by 2,995 individuals (+1.5%). Unemployment among those with no preceding employment fell by 3,150 individuals (-1.3%).
Unemployment rose in August for both genders nearly equally. Specifically, female unemployment increased by 10,913 women compared to the previous month (+0.7%), while male unemployment saw a rise of 10,971 men (+1.09%).
Consequently, by the end of August 2024, the total number of unemployed women stood at 1,550,658, the lowest figure for a month of August in the historical records, while the total number of unemployed men amounted to 1,021,463.
By age group, unemployment rose among individuals under 25 years by 1.2% in August, with 2,186 more unemployed than at the end of July, while unemployment among people aged 25 and over increased by 19,698 jobless individuals (+0.8%).
At the close of last month, the total count of unemployed individuals under 25 reached 177,112, a new historical low for a month of August, already marking 40 months of year-on-year reductions, as per the Ministry of Labour.
PERMANENT EMPLOYMENT DECREASES BY 7% YEAR-ON-YEAR
In August of this year, 1,040,159 contracts were reported, showing a nearly 4.5% decline compared to the same month in 2023. Out of these, 389,735 were permanent contracts, which is a 6.97% drop from the previous year, making up 37.47% of all contracts created in August, a percentage that is 1.2 points lower than recorded in July, when the share of permanent contracts was at 38.71%.
Among permanent contracts, 163,674 full-time contracts were signed in August, reflecting a 4.8% decrease compared to the same month last year; 132,696 permanent-discontinuous contracts (-13% year-on-year); and 93,365 permanent part-time contracts (-1.2%).
Of all contracts executed in August, 650,424 were temporary contracts, representing a 2.9% decline compared to the same month last year. Overall, these contracts accounted for 62.5% of the hiring executed in the eighth month of the year.
In the first eight months of the year, nearly 10 million contracts have been established, reflecting a 1.8% decrease compared to the same timeframe in 2023. Out of these, 4.21 million were permanent contracts, marking a 4.4% decline, while 5.77 million were temporary, which denotes a 0.1% increase from the same period last year.
UNEMPLOYMENT COVERAGE RATE AT 75.5%
The Ministry additionally reported that expenditure on unemployment benefits reached 1,880.7 million euros in July 2024 (latest available data), representing a 5.6% increase in comparison with July 2023.
The average monthly expenditure per recipient, excluding the agricultural subsidy for Andalusia and Extremadura, amounted to 1,062.8 euros in July, showing a rise of 4.1%.
The average gross amount of the contributory benefit that each recipient received was 949.7 euros last July, indicating an increase of 23.4 euros compared to the same month of the previous year (+2.5%).
The total count of unemployment benefit recipients by the end of July stood at 1,804,488 individuals, marking a 1.4% increase from July 2023.
The unemployment coverage rate, which was 70.82% a year ago, increased to 75.55% in July 2024, representing the highest level for this month since 2010.
