News
Madrid reaches record employment with 3.6 million in work
The EPA reports that employment in Madrid reached 3.6 million in the third quarter. The activity rate rose by 0.4 points to 63.3%. Regional unemployment stands at 8.2%, two points below the national average. The working-age population has also increased.
With an 8.2% unemployment rate, Madrid is two points below the Spanish average in the third quarter.
The EPA, published by the Instituto Nacional de Estadística (INE), records 61,000 more people in work than a year earlier. The 1.8% increase brings the total to 3.6 million, the highest ever for a third quarter. The working-age population also grew by more than 75,000, the largest absolute increase among the autonomous communities and accounting for 17% of national growth.
Among employees in the region, 88.9% have permanent contracts, 4.3 points above the national percentage. This employment figure appears alongside another everyday issue for young people in Madrid: access to housing, addressed in this analysis of emancipation.
Female unemployment in Madrid stood at 9.1%, 2.2 points below the rate recorded for Spain as a whole.
The EPA brings together indicators with different approaches. The activity rate includes those who are working and those actively seeking work. The unemployment rate is calculated based on the active population. Reading these figures allows for a comparison between the regional situation and that of the country as a whole in the same quarter.