Spain's unemployment rate dropped to 11.76% in the fourth quarter of 2023, down from 11.84% in the previous quarter and falling short of the market consensus of 11.9%. The number of unemployed people decreased by 24.6 thousand, reaching 2.831 million, while the number of employed individuals fell by 19.0 thousand to 21.247 million. Furthermore, the labor force participation rate declined to 58.99% during the fourth quarter from 59.41% in the previous period. source: National Statistics Institute (INE)

Unemployment Rate in Spain decreased to 11.76 percent in the fourth quarter of 2023 from 11.84 percent in the third quarter of 2023. Unemployment Rate in Spain averaged 16.25 percent from 1976 until 2023, reaching an all time high of 26.94 percent in the first quarter of 2013 and a record low of 4.41 percent in the third quarter of 1976. This page provides the latest reported value for - Spain Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Spain Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Unemployment Rate in Spain decreased to 11.76 percent in the fourth quarter of 2023 from 11.84 percent in the third quarter of 2023. Unemployment Rate in Spain is expected to be 12.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Spain Unemployment Rate is projected to trend around 10.50 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-10-26 07:00 AM
Unemployment Rate
Q3 11.84% 11.6% 11.5% 11.6%
2024-01-26 08:00 AM
Unemployment Rate
Q4 11.76% 11.84% 11.9% 12.0%
2024-04-26 07:00 AM
Unemployment Rate
Q1 11.76% 11.7% 12.1%


Related Last Previous Unit Reference
Employed Persons 21246.90 21265.90 Thousand Dec 2023
Employment Rate 52.05 52.38 percent Dec 2023
Full Time Employment 18377.60 18588.70 Thousand Dec 2023
Job Vacancies 42.18 60.20 Thousand Mar 2024
Job Vacancy Rate 0.80 0.90 percent Dec 2023
Labor Force Participation Rate 58.99 59.41 percent Dec 2023
Labour Costs 115.58 111.08 points Dec 2023
Part Time Employment 2869.30 2677.20 Thousand Dec 2023
Population 48.59 48.09 Million Dec 2023
Unemployment Rate 11.76 11.84 percent Dec 2023
Wages 2359.38 2117.80 EUR/Month Dec 2023
Wages in Manufacturing 2722.51 2407.18 EUR/Month Dec 2023

Spain Unemployment Rate
In Spain, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
11.76 11.84 26.94 4.41 1976 - 2023 percent Quarterly

News Stream
Spain Jobless Rate Unexpectedly Falls in Q4
Spain's unemployment rate dropped to 11.76% in the fourth quarter of 2023, down from 11.84% in the previous quarter and falling short of the market consensus of 11.9%. The number of unemployed people decreased by 24.6 thousand, reaching 2.831 million, while the number of employed individuals fell by 19.0 thousand to 21.247 million. Furthermore, the labor force participation rate declined to 58.99% during the fourth quarter from 59.41% in the previous period.
2024-01-26
Spain Jobless Rate Unexpectedly Rises in Q3
Spain's unemployment rate ticked up to 11.84% in the third quarter of 2023, slightly higher than the 11.60% recorded in the preceding three-month period and surpassing market expectations set at 11.5%. The number of unemployed people increased by 92.7 thousand, reaching 2.855 million, primarily attributed to the conclusion of the peak tourist season. On the other hand, the number of employed individuals also saw an uptick, increasing by 209.1 thousand to reach 21.266 million. Additionally, the labor force participation rate climbed to 59.41% during the third quarter from 58.97% in the previous period.
2023-10-26
Spain Jobless Rate Falls More than Expected
Spain's jobless rate fell to 11.6 percent in the second quarter of 2023 from 13.3 percent in the previous three-month period, the lowest since 2008 and below market expectations of 13 percent. The rate was 12.5 percent in the second quarter of 2022. The number of unemployed people decreased by 365 thousand to 2.763 million, while the number of employed rose by 604 thousand to 21.057 million. The labor force participation rate edged up to 59 percent in the second quarter from 58.6 in the previous period.
2023-07-27