Unemployment in Spain
Spain - Unemployment
Unemployment rate inches down to decade-low
The jobless rate ticked down to 14.5% in the fourth quarter of 2018, coming in below the 14.6% rate logged in the third quarter and marking the lowest reading since Q4 2008. In absolute terms, the number of unemployed fell to 3.30 million, a slight reduction from the 3.33 million jobless in the third quarter.
Employment gains were centered in the agricultural sector, adding 57,200 jobs in the fourth quarter, followed by the construction sector (+39,800). However, jobs were shed in services (-43,000) amid a waning tourism industry as well as in the industrial sector (-17,400). Temporary jobs were down 88,500 in Q3, contrasting the 108,500 permanent positions created. Meanwhile, the total workforce rose marginally by 14,900 people in Q4 to a total of 22.9 million.
FocusEconomics Consensus Forecast participants expect unemployment to average 14.0% this year, which is unchanged from last month’s projection. For 2020, the panel foresees an unemployment rate of 13.1%.
Spain - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Spain Unemployment Chart
Source: National Statistical Institute (INE).
|Bond Yield||1.12||5.62 %||Mar 11|
|Exchange Rate||1.12||0.65 %||Mar 11|
|Stock Market||9,172||-0.74 %||Mar 11|
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March 11, 2019
Retail sales rose 1.7% in year-on-year terms in January, following the 0.1% uptick logged in December.
March 8, 2019
Industrial production increased 2.4% year-on-year in seasonally- and calendar-adjusted terms in January, contrasting December’s revised 5.9% decline (previously reported: -6.2% year-on-year), which had marked the sharpest contraction in six years.
March 5, 2019
Reflecting weaker activity growth in the services and manufacturing sectors, the IHS Markit composite Purchasing Managers’ Index (PMI) slipped from January’s seven-month high of 54.5 to 53.5 in February.
February 28, 2019
Spain’s current account balance recorded a surplus of EUR 4.7 billion in December, slightly below the EUR 5.1 billion surplus recorded in December 2017 but well above the EUR 1.8 billion surplus logged in November.
February 28, 2019
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 7,599 new construction permits in December.