Unemployment falls as spanish construction climbs

Photo: Aparejador

The number of Spaniards registered as unemployed fell 0.3 per cent in February compared to January 2015, the biggest fall recorded in a February since 2001. Indeed, 4.51 million are now registered as out of work, according to the Labour Ministry, 13,538 lower than the previous month, reports RTE.

Unemployment fell the most in Spain's construction sector, by 10,091 people. 

The positive movement in the market looks set to continue, with KPMG predicting that the number of jobs in the Spanish property sector will rise from the current level of 7 per cent to reach 10 per cent of workers by 2020.

Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, certainly believes that will be the case.

He comments: "We're seeing property employment rise across Spain right now. Taylor Wimpey España has taken on six new employees in the last few weeks alone and the expanding property market should see additional increases in jobs over the course of 2015 and beyond. Right now, foreign demand for Spanish property is soaring and employment in hotspots like Mallorca is increasingly rapidly as a result."

Indeed, property in Mallorca is so popular with overseas buyers that the Association of Property Registrars in the Balearics has reported a tripling in the number of foreign-bought homes, with 30.7 per cent of homes sold in the islands picked up by non-Spanish buyers.