Spain Unemployment Rate

Spain's unemployment rate fell to 10.61% in the fourth quarter of 2024, down from 11.21% in the previous quarter and falling short of the market consensus of 11.1%. This was the lowest rate since Q2 2008. The number of unemployed people declined by 158.6 thousand from the previous three-month period to 2.596 million, while the number of employed individuals increased by 34.8 thousand to 21.86 million. The number of active workers decreased by 123.8 thousand to 24.45 million. This quarter, employment decreased by 3.8 thousand for men, while women’s employment rose by 38.7 thousand. By nationality, the number of employed Spaniards, including those with dual nationality, increased by 14.8 thousand, while employment among foreigners grew by 20 thousand. In terms of sectors, job growth was seen in services (24,000 more jobs), Industry (7,000), and agriculture (3,200). Construction saw minimal change, with an increase of just 600 jobs.