Unemployment in Spain

Spain Unemployment | Economic News & Forecasts

Spain - Unemployment

Unemployment rate edges up in the first quarter

The jobless rate edged up to 14.7% in the first quarter of 2019 from 14.5% in the final quarter of 2018, which had marked the lowest reading in a decade. The climb, however, largely reflected a seasonal effect as unemployment tends to increase at the outset of the year due to layoffs of temporary staff across the services industry following the winter holiday season. In absolute terms, the number of unemployed stood at 3.35 million, slightly above the 3.30 million jobless recorded in Q4 2018.

Employment losses were centered in the services sector, which shed 109,200 jobs in the first quarter owing to the end of the Christmas season. In contrast, the agricultural sector added 14,100 jobs while the industrial and construction sectors did not experience a significant variation in employment. Temporary jobs were down 185,800 in Q1, contrasting the 89,900 permanent positions created. Meanwhile, the total workforce declined marginally by 43,500 in Q1 to a total of 22.8 million.

FocusEconomics Consensus Forecast participants expect unemployment to average 13.9% this year, which is unchanged from last month’s projection. For 2020, the panel foresees an unemployment rate of 13.0%.

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 Yield0.415.62 %Jul 10
Exchange Rate1.130.65 %Jul 11
Stock Market9,280-0.74 %Jul 11

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