Unemployment in Spain

Spain Unemployment | Economic News & Forecasts

Spain - Unemployment

Unemployment rate falls to over decade-low in Q2

The jobless rate declined from 14.7% in the first quarter to 14.0% in the second quarter, the lowest reading since Q4 2008. In absolute terms, the number of unemployed workers stood at 3.23 million, below the 3.35 million jobless recorded in the previous quarter.

Employment gains were centered in the services sector, which rebounded from the losses it posted in the first quarter by adding 313,200 jobs, in large part linked to the start of the tourist season. Jobs were also created in the industrial sector (+56,000). However, jobs were shed in both the agricultural (-30,400) and construction (-5,000) sectors. Temporary jobs were up 166,100 in Q2, slightly above the 164,500 permanent positions created. Meanwhile, the total workforce rose by 210,200 people in Q2 to a total of 23.0 million.

FocusEconomics Consensus Forecast participants expect unemployment to average 13.7% this year, which is down 0.1 percentage points from last month’s projection. For 2020, the panel foresees an unemployment rate of 12.8%.

Spain - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate26.1  24.4  22.1  19.6  17.2  

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Spain Unemployment Chart

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

Spain Facts

Bond Yield0.075.62 %Sep 03
Exchange Rate1.100.65 %Sep 04
Stock Market8,857-0.74 %Sep 04

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