Unemployment in Spain

Spain Unemployment | Economic News & Forecasts

Spain - Unemployment

Unemployment rate inches down to its lowest in 11 years in Q4 2019

The jobless rate inched down from 13.9% in the third quarter to 13.8% in the final quarter of 2019, the lowest reading since Q4 2008. In absolute terms, the number of unemployed workers stood at 3.19 million, slightly below the 3.21 million jobless recorded in the previous quarter.

Employment gains were centered in the services sector by adding 83,000 jobs, in large part due to the holiday season. Jobs were also created in the agricultural (+47,600) and construction (+14,000) sectors. However, jobs were shed in the industrial sector (-52,100). Notably, temporary jobs were down 78,600 in Q4, contrasting the 134,700 permanent positions created. Meanwhile, the total workforce rose by 70,100 people in Q4 to a total of 23.2 million.

FocusEconomics Consensus Forecast participants expect unemployment to average 13.5% this year, which is up 0.3 percentage points from last month’s projection. For 2021, the panel foresees an unemployment rate of 13.1%.

Spain - Unemployment Data

2014   2015   2016   2017   2018  
Unemployment Rate24.4  22.1  19.6  17.2  15.3  

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Spain Unemployment Chart

Spain Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Institute (INE).

Spain Facts

Value Change Date
Bond Yield0.465.62 %Dec 31
Exchange Rate1.120.65 %Dec 31

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