Unemployment in Comunitat Valenciana Reaches Lowest Level Since 2008

The number of unemployed individuals decreased by 2,467 in March, driven by the services sector and local festivities.

Generic image of a hand pointing at a growth chart on a computer screen, symbolizing economic improvement.
IA

Generic image of a hand pointing at a growth chart on a computer screen, symbolizing economic improvement.

The Comunitat Valenciana experienced a significant improvement in its labor market during March, with a reduction of 2,467 unemployed individuals and the creation of 21,832 new jobs, reaching the lowest unemployment figure since 2008.

Data published by the Ministry of Labor and Social Economy reveals that the total number of unemployed people in the Comunitat Valenciana stood at 288,162, marking the lowest registration for a month of March since 2008. This improvement is primarily attributed to the boost in the services sector, influenced by the Fallas and Magdalena festivities, as well as the approaching Easter Week.
By economic sectors, unemployment significantly decreased in services (-1,658), construction (-658), industry (-310), and agriculture (-42). However, a slight increase of 201 people was observed in the group with no prior employment. By province, Alicante led the decrease with 1,213 fewer unemployed, followed by Valencia with 879 and Castellón with 375.
Of the total unemployed individuals, 176,955 are women and 111,207 are men. Additionally, there are 18,381 individuals under 25 years old who are unemployed. The services sector continues to concentrate the most unemployed, with 204,299 people, followed by industry (33,454), the group with no prior employment (23,413), construction (19,980), and agriculture (7,016).
Regarding hiring, March registered 14,495 more contracts than in February, an increase of 13.92%. Year-on-year, the increase was 11,270 contracts, up 10.50%. Permanent contracts grew by 11.80%, reaching 62,169, while temporary contracts increased by 16.34%, to 56,456. The Comunitat Valenciana was one of the regions with the largest decrease in unemployment in Spain, along with Andalusia and Catalonia.
Furthermore, the Comunitat Valenciana added 2,263,853 affiliates to Social Security in March, 21,832 more than the previous month, representing a 0.97% increase. Compared to the previous year, the increase is 78,185 affiliates, a 3.58% rise. By province, Alicante registered a monthly increase of 11,663 affiliates, Valencia of 8,344, and Castellón of 1,825.