Spain's unemployment rate fell to 12.48 percent in the quarter ending June of 2022 from 13.65 percent in the previous three-month period and below market expectations of 13.00 percent. It was the lowest jobless rate since September of 2008, with the number of unemployed people dropping by 255.3 thousand from the previous period to 2.919 million and employment rising by 383.3 thousand people to 20.468 million. By sector, unemployment fell the most in services (-120.7 thousand persons), industry (-18.100 thousand persons), and agriculture (-10.0 thousand persons). The labor force participation rate inched up to 58.71 percent from 58.50 percent in the previous period. source: National Statistics Institute (INE)
Unemployment Rate in Spain averaged 16.38 percent from 1976 until 2022, 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 October of 2022.
Unemployment Rate in Spain is expected to be 12.70 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 11.00 percent in 2023 and 10.50 percent in 2024, according to our econometric models.