Unemployment spending shoots up 22% in four years: over 2 billion a month
The improvement in salaries and contribution bases, the revaluation of the maximum amount of the benefit and the access of discontinuous fixed unemployed people boost the outlay. Excluding the pandemic, it is the largest cost in twelve years.
Spain's unemployment benefits bill has reached 14.695 billion euros in the first seven months of the year, a 3.8% increase from the same period last year and a 22% rise from four years ago. The number of unemployed people, however, has decreased to 2.31 million, the lowest level for this period since 2007. The increase in benefits is attributed to improved salaries, higher contribution bases, and the inclusion of discontinuous workers who are not considered unemployed but are eligible for benefits. The average monthly benefit has risen to 1.000 euros, a 16% increase from 2022.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
