Spain's unemployment rate rose to 12.29% in the first quarter of 2024, marking the highest rate in a year and surpassing the market consensus of 11.80%. The number of unemployed people increased by 117.0 thousand from the previous three-month period, reaching 2.978 million, while the number of employed individuals fell by 139.7 thousand to 21.250 million. Furthermore, the labor force participation rate declined to 58.63% during the first quarter from 58.84% in the previous period. source: National Statistics Institute (INE)
Unemployment Rate in Spain increased to 12.29 percent in the first quarter of 2024 from 11.80 percent in the fourth quarter of 2023. Unemployment Rate in Spain averaged 16.24 percent from 1976 until 2024, 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 2024.
Unemployment Rate in Spain increased to 12.29 percent in the first quarter of 2024 from 11.80 percent in the fourth quarter of 2023. Unemployment Rate in Spain is expected to be 11.20 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.