Unemployment in Spain
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
5 years of economic forecasts for more than 30 economic indicators.
Spain Unemployment Chart
Source: National Statistical Institute (INE).
|Bond Yield||0.41||5.62 %||Jul 10|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||9,280||-0.74 %||Jul 11|
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July 5, 2019
Industrial production rose 1.4% year-on-year in seasonally- and calendar-adjusted terms in May, moderating from April’s 1.8% increase.
July 3, 2019
Reflecting diverging performances in the manufacturing and services sectors, the IHS Markit composite Purchasing Managers’ Index (PMI) remained at May’s five-and-a-half year low of 52.1 in June.
June 28, 2019
Spain’s current account balance recorded a deficit of EUR 413 million in April, smaller than the EUR 1.3 billion shortfall recorded in April 2018 but much greater than the EUR 107 million deficit logged in March.
June 28, 2019
Retail sales rose 3.1% in year-on-year terms in May, marking a seven-month high and following the softer 1.9% upturn logged in April.
June 28, 2019
Economic activity accelerated at the start of the year, according to a second GDP estimate released by Spain’s Statistical Institute (INE) on 28 June.