Unemployment in Spain
Spain - Unemployment
Unemployment rate falls in Q2
The jobless rate fell from 16.0% in Q1 to 15.3% in the second quarter, amid easing restrictions and an acceleration in the vaccination campaign. The figure came above market analysts’ expectations of a 15.1% unemployment rate, and was marred by an increase in labor force. In absolute terms, the number of unemployed workers stood at 3.54 million in Q2, down from Q1’s 3.65 million. That said, the print still partly masks the full extent of the crisis by not counting those under temporary furlough schemes as effectively unemployed.
Jobs were added across almost all sectors of the economy in Q2. The services segment added the most jobs (+365,700), followed by the construction (+63,100), industrial (+23,000) and agricultural (+13,100) sectors. Overall, a total of 464,900 jobs were added from the prior quarter. For its part, the workforce rose by 354,800 people in Q2 to a total of 23.2 million.
FocusEconomics Consensus Forecast participants expect the unemployment rate to average 17.4% in 2021 and 16.0% in 2022.
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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September 10, 2021
Industrial output grew 3.4% year-on-year in seasonally- and calendar-adjusted terms in July, which was a deterioration from June’s 11.0% increase.
September 3, 2021
The IHS Markit composite Purchasing Managers’ Index (PMI) dipped from 61.2 in July to 60.6 in August, reflecting milder growth in the services sector more than offsetting a stronger expansion in manufacturing activity.
September 2, 2021
Spain’s current account balance recorded a surplus of EUR 0.3 billion in June 2021, below the EUR 2.1 billion surplus logged in June 2020 and May 2021’s EUR 0.9 billion surplus.
September 1, 2021
Retail sales grew 0.1% year-on-year in July, softening from the 1.4% growth tallied in June.
August 11, 2021
The IHS Markit composite Purchasing Managers’ Index (PMI) dipped from a historic high of 62.4 in June to 61.2 in July, reflecting somewhat milder growth in both the manufacturing and the services sector.