Job creation shows signs of slowing in Spain with poor August data

File photo of people queueing outside an unemployment office.
File photo of people queueing outside an unemployment office. / AFP
  • The number of people paying into the Social Security system fell by almost 213,000 in August

There was unexpectedly poor news for Spanish unemployment this week as monthly Social Security data was released.

August is normally a bad month for falls in numbers in work, as summer staff are laid off at the end of the month, but this year the drop has been the biggest since 2008 at the start of the world financial crisis. In August, an average of 6,870 fewer people a day were paying Social Security contributions, says the government data, a total of 212,984 fewer people in work than in July.

As usual for Social Security data, this translates into less of a rise in the number of registered jobless signing on, which went up 54,371, the biggest rise in August since 2010.

Despite the bad monthly figures, rates of new job creation in Spain are still above the European average.

The number of registered unemployed in Spain stood at 3,065,804 at the end of August.