The Ministry of Employment has published the data of unemployment of the month of March of 2017. It seems that after the rise of the unemployment in the month of January, comes the calm. In March, the unemployment rate fell again in 48,559 people, the best register since 2002. On the other hand, the number of members of the Social Security has increased in 161.752 contributors. Will unemployment in Spain fall by 3 million during 2017?
As we know, there are two data on the unemployment rate, offered by the Ministry of Employment and the EPA (Active Population Survey). Throughout these months we will see the data that provide us both. The Ministry of Employment publishes the data monthly, while the EPA does, so on a quarterly basis.
In the following article we are going to analyze the evolution of the unemployment rate of 2017 from the data published monthly by the Ministry of Employment, as well as the data published by the INE of the Labor Force Survey (EPA) on a quarterly basis.
First, we need to know how the unemployment rate is calculated. There are two ways to calculate the step rate:
Taking as reference the Survey of Active Population (EPA), carried out by the National Institute of Statistics. Its calculation is carried out by the formula population stopping divided active population and its result is expressed as a percentage.
Through the registration of unemployed of the Public Employment Service, made by the National Employment Institute from the people enrolled in it.
What is the difference between the two statistics to calculate the unemployment rate?
The difference is that they are different measurements:
In 2016 we have seen a drop in unemployment, although in the last quarter has increased. The lowest unemployment figure for the year 2016 was the month of July, with 3,683,061 people unemployed, while the highest was in February with 4,152,986 people.
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Compared to previous years, we see that since 2011, 2016 has been the month with the lowest unemployment rate, not exceeding in any month the 4.200.000 unemployed. Looking at the year 2013, we see that the unemployment rate was above 5,000,000 people in unemployment.
In January 2017, the number of unemployed has increased by 57,257 people due to the end of the Christmas campaign. Currently the total number of unemployed is 3,760,231 people. On the other hand, the number of affiliates to Social Security has been reduced by 174,880 people, reaching a total of 17,674,175 people affiliated to Social Security.
In February, unemployment dropped by 9,355 people, leaving an unemployment figure of 3,750,876 people. On the other hand, the members of the Social Security have increased by 74,080 people, reaching a figure of 17,745,255 people.
In the month of February the unemployment has fallen in 48,559 people, leaving an unemployment figure of 3,702,317 people. The members of the Social Security have increased by 161.752 people, reaching a figure of 17,910,007 people.