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High labour market dynamism in 2022
The positive seasonality of enrolment in the region in the last quarter of the year meant that the December
figure was the third consecutive record high. This momentum has enabled the year 2021 to close with year-
on-year growth of 5%. However, enrolment has declined since May 2022, reaching a level of 4.3% in
August.
The accelerated fall in unemployment in the second part of the year 2021 has contributed to close the year
with a reduction of more than 15% y.a. The continuity of the improvement in the labour market in 2022 has
allowed a reduction of 25.2% in the month of August. The unemployment rate fell in 2Q22, after the upturn
in the first three months of the year, to 10.2% (down 1.7 p.p.).
Registered unemployment and Social
Security Affiliations (YoY %)
Unemployment Rate
Community of Madrid and Spain
20
18,1
10
3,4
0
-4,4 -1,3
-10
-20
18,0
16,3 16,1 16,0
16,0
15,3
15,3
14,4
14,6
13,7
14,0
13,3 13,5
13,3
12,6
12,2
12,5
12,1 11,8
11,9
12,0
10,6
10,1
10,2
Affiliation
10,0
4,3
8,0
6,0
Registerd
Unemployment
4,0
-25,1
2,0
aug-22
0,0
1-20 II-20
III-20
IV-20 1-21 II-21
III-21 IV-21 1-22 II-22
Source: EPA, INE
■C. Madrid
■Spain
-30
20192020 dec-20
apr-21
aug-21
dec-21
apr-22
Source: MISSYM Y MTYES
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