Spain's labor market is experiencing a remarkable turnaround, with unemployment hitting its lowest point since May 2007 and employment reaching record highs. This positive trend is particularly notable given that May is traditionally a month marked by seasonal hiring for the summer. The number of people registered with employment offices dropped by 36,323 compared to April, reaching 2.32 million, a significant improvement from the same month last year when 134,162 fewer people were unemployed. This decline is widespread across all productive sectors, with the notable exception of those with no prior employment, who saw a slight increase. The rise in Social Security membership is another encouraging sign, with an average of 231,975 contributors added each month, bringing the total to a record-breaking 22.3 million registered workers. This growth is evident across various demographic groups, including young people, women, men, self-employed workers, and foreign nationals, with the latter now accounting for around 15% of registered workers. The hospitality sector, driven by tourism and summer service activities, generated the most jobs in May, adding nearly 66,000 registrations. Administrative and support services also saw significant gains, approaching 1.5 million employees. Health activities and social services made the biggest contribution to employment growth year-on-year, with over 77,000 additional registered workers. The special agricultural scheme regained members, while the special scheme for domestic workers continued to reduce its registered members. Self-employment reached a new high, with 3.46 million people working for themselves, and almost 46,000 self-employed workers joining the system in the past 12 months, particularly in professional, scientific, and technical activities. Women now account for 47.45% of all people in work, with the number of jobless women falling to 1.4 million, the lowest level for a May since 2008. Youth unemployment has also fallen to 164,955 people under the age of 25, the lowest level since records began, with fewer unemployed women than men within this group. Services recorded the largest fall in unemployment, with a significant decline in the number of jobless people. Regional differences remain notable, with the Balearic Islands leading in both monthly reduction in unemployment and membership growth, and Madrid leading in job creation in absolute figures. In terms of hiring, permanent contracts signed in May accounted for 43.2% of the total, with an increase in both month-on-month and year-to-date comparisons. The latest data on unemployment protection for April shows 1.78 million benefits paid, with an average amount received per beneficiary of 1,168.30 euros per month, an increase of 22.6 euros from the previous year. This positive labor market trend is a significant development for Spain, indicating a robust economic recovery and a promising future for its workforce.
