Real estate unemployment continues to decline. In October, the real estate sector registered 263,223 job seekers registered with the State Employment Service (Sepe). According to the Ministry of Labor, this is 14.4% less than in the same period a year earlier. This figure reflects a decline in recent months, although it is still below the figures recorded in the same period before the pandemic.
In October 2019, the number of unemployed was 260,440. The number of unemployed registered in October this year in real estate is the lowest since the pandemic broke out in Spain. Monthly, unemployment in this sector fell 1.7%. In September, the number of unemployed in this sector was 267,721. In the segment of activities in the real estate sector, the number of unemployed amounted to 18 632 people, which is 14.6% less than a year earlier, when there were 21 828 job seekers.
The decline in the specialized construction subsector was 14.5%, from 146,359 unemployed in October 2020 to 125,394 in October this year. In the construction industry, the decrease in the number of unemployed was 14.5% to 119,197 people. The total number of job seekers, including those who work, amounted to 379,290 people, 34.1% less than in the same period last year.
Before the outbreak of the Spanish pandemic in February 2020, the number of unemployed in the real estate sector was 266,183, and this figure has been growing throughout the year. At the end of the period, the number of unemployed was 325,959. In October, the average number of social security branches increased by 3.4% over the same period last year. In the tenth month of the year, the number of unemployed was 3.2 million, which is 734 less than in the same period last year. According to the Labor Department, this is the first time unemployment has fallen in October since 1975, and the first time unemployment has dropped so much over time.