Spain: Unemployment rate increases in Q1
Latest reading: The unemployment rate rose to 11.4% in Q1 from 10.6% in Q4. Q1’s print surprised market expectations on the upside and marked the highest reading since Q1 2024. The number of employed people fell by 92,500 relative to Q4, with job losses recorded in the construction, industrial and services sectors. That said, employment in the agricultural sector increased.
Meanwhile, the number of unemployed rose by 193,700 people from Q4, though the number of people in the labor force increased by 101,200 to a total of 24.6 million.