Unemployment in Spain
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
5 years of economic forecasts for more than 30 economic indicators.
Spain Unemployment Chart
Source: National Statistical Institute (INE).
|Bond Yield||0.46||5.62 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 27, 2020
The Spanish Board of Architects approved 8,072 new construction permits in December 2019, according to data published by the Ministry of Public Works.
February 7, 2020
Industrial production rose 0.8% year-on-year in seasonally- and calendar-adjusted terms in December, down from November’s revised 1.6% expansion (previously reported: +2.1% year-on-year).
February 5, 2020
Largely reflecting softer growth of the services sector, the IHS Markit composite Purchasing Managers’ Index (PMI) dropped from 52.7 in December to 51.5 at the start of the year.
January 31, 2020
The economy gained some traction in the final quarter of 2019, according to an advance GDP estimate released by the National Statistics Institute (INE) on 31 January.
January 31, 2020
Spain’s current account balance recorded a surplus of EUR 3.4 billion in November 2019, above both the EUR 2.1 billion surplus recorded in November 2018 and EUR 2.8 billion surplus logged in October.