Unemployment and National Insurance data released on Tuesday represent "the best March in history", states Mariano Rajoy

Headquarters of the General Treasury of the Social Security, Segovia

After stressing that "today is a good day for the Social Security system", the President of the Government described the published unemployment figures and National Insurance data as "very good": "It is the best March ever in terms of employment. Over 162,000 more people paying National Insurance into the Social Security system. Over 600,000 when compared with March last year. The reduction in unemployment is also very significant: over 10% in the last year", he said.

Mariano Rajoy added that "we are moving at a good pace" towards the great common objective: "Having 20 million people in work and therefore paying National Insurance into the Social Security system by the end of this current legislature", he said.

Excellent figures, although not enough

Pool Moncloa/Diego CrespoThe President of the Government believes that there is one figure that "encourages us to persevere" - the figure on permanent employment: the "number of permanent employment contracts has risen by 18% and the number of full-time employment contracts by over 20%".

Despite admitting that "these figures are excellent news for everyone", President of the Government, Mariano Rajoy, acknowledged that "it is not enough" and that we can become neither "conformist" nor "complacent" but should rather continue in order to repeat "similar figures in the future".

Social Security

Mariano Rajoy stressed that the new integrated headquarters of the Social Security system in Segovia "is a commitment to the future of one of the most highly valued institutions in Spain", an institution that represents both inter-generational solidarity (the National Insurance paid by workers guarantee current pensions) and inter-regional solidarity (the single pot model guarantees the payment of pensions throughout Spain).

The President of the Government also added that "Spain has modern Social Security", with a system that "is capable of paying over 9.5 million pensions" and "managing over 40 different social benefits".

Effects of the crisis

Mariano Rajoy recalled that the crisis meant the loss of 70 billion euros from tax revenue. "By the end of 2017, the public authorities will once again be receiving the same revenue as ten years ago", he said.

In spite of that fall in revenue during the crisis, added the President of the Government, "spending on pensions rose by 40 billion euros". In this regard, he explained that Spain was able to maintain that spending while at the same time "continuing to reduce the public deficit".

Pool Moncloa/Diego Crespo

Mariano Rajoy explained that, during the years of economic crisis, "three jobs were lost for each new pension paid out from the system". Today that situation has been reversed. "For each new pension paid out from the system, six jobs are being created", he said.

He went on to add that the key to maintaining the pension system is making sure there are more people in work. "As things stand today, I am optimistic", he said.

The General State Budget for 2017

The President of the Government also referred to the General State Budget, approved on Friday by the Council of Ministers. He said the budget has been drawn up "with a view to maintaining the recovery" and that "six out of every ten euros will be dedicated to social spending".

The Minister for Employment and Social Security, Fátima Báñez, spoke before the speech by the President of the Government. She also welcomed the unemployment and National Insurance data that her ministerial department published on Tuesday.