Unemployment in Spain
Spain - Unemployment
Unemployment rate falls to lowest level in nearly a decade
The jobless rate declined to 14.6% in the third quarter, coming in below the 15.3% rate logged in the second quarter and marking the lowest reading since Q4 2008. In absolute terms, the number of unemployed workers fell to 3.33 million, a marked reduction from the 3.49 million jobless in the second quarter.
Employment gains were again centered in the services sector, adding 210,200 jobs in the third quarter—largely driven by buoyant tourism activity during the summer months. Jobs were also created in the construction (+24,900) and industrial (+2,800) sectors. However, jobs were shed in the agricultural sector (-54,000). Temporary jobs were up 151,000 in Q3, significantly above the 25,300 permanent positions created. Meanwhile, the total workforce rose marginally by 19,800 people in Q3 to a total of 22.9 million.
Spain Unemployment Rate Forecast
FocusEconomics Consensus Forecast participants expect unemployment to average 15.4% next year, which is unchanged from last month’s projection. For 2020, the panel foresees an unemployment rate of 14.2%.
Spain - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Spain Unemployment Chart
Source: National Statistical Institute (INE).
|Bond Yield||1.44||5.62 %||Jan 11|
|Exchange Rate||1.15||0.65 %||Jan 14|
|Stock Market||8,819||-0.74 %||Jan 14|
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January 11, 2019
Industrial production declined 2.6% year-on-year in seasonally- and calendar-adjusted terms in November, contrasting October’s revised 0.7% increase (previously reported: +0.8% year-on-year) and marking the sharpest contraction since May 2013.
January 4, 2019
Reflecting weaker activity growth in the manufacturing sector, the IHS Markit composite Purchasing Managers’ Index (PMI) edged down from 53.9 in November to 53.4 in December.
January 3, 2019
Robust momentum was maintained in the third quarter of the year, according to a second GDP estimate released by the National Statistical Institute (INE) on 28 December.
December 28, 2018
Spain’s current account balance recorded a surplus of EUR 294 million in October, a marked decline from the EUR 1.9 billion surplus recorded in October 2017 and well below the EUR 696 million surplus logged in September.
December 28, 2018
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 8,583 new construction permits in October.