Unemployment in Spain

Spain Unemployment | Economic News & Forecasts

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 (-17,110). Temporary jobs were down 88,500 in Q3, contrasting the 118,500 permanent positions created. Meanwhile, the total workforce rose marginally by 14,900 people in Q4 to a total of 22.9 million.

Met the why particular 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

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 Yield1.095.62 %Apr 18
Exchange Rate1.130.65 %Apr 22
Stock Market9,582-0.74 %Apr 18

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