Spain's unemployment rate increased to 14.41 percent in the first quarter of 2020 from an 11-year low of 13.78 percent in the previous three-month period, below market expectations of 15.60 percent. That was the highest rate since the first quarter of 2019 as the Covid-19 crisis escalated. The number of unemployed rose by 121 thousand or 3.79 percent to 3.31 million, while the number of employed declined by 285.6 thousand or 1.43 percent to 19.68 million, the biggest decrease in employment since 2013.
Unemployment Rate in Spain averaged 16.46 percent from 1976 until 2020, 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 May of 2020. source: National Statistics Institute (INE)
Unemployment Rate in Spain is expected to be 17.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Spain to stand at 18.70 in 12 months time. In the long-term, the Spain Unemployment Rate is projected to trend around 17.80 percent in 2021 and 15.10 percent in 2022, according to our econometric models.