The number of people registered as unemployed in Spain fell by 1, 836 from a month earlier, or 0.06 percent, to 3.253 million in November of 2018 and well below market expectations of a 34,200 increase. By sector, unemployed decreased in industry (1,448), agriculture and fishing (-370), construction (-155) but rose in services (8,092). By regions, main declines were seen in Madrid (-5,921), Andalusia (-4,379), Comunidad Valenciana (-3,529) and Castilla-La Mancha (-3,509) while gain were recorded in Islas Baleares (9,655), Catalonia (3,208) and Canarias (1,874). Unemployment dropped by 9,739 for those below 25 years old while for those aged more than 25, jobless increased by 7,903. Unemployment Change in Spain averaged 4.47 Thousand from 1960 until 2018, reaching an all time high of 461.01 Thousand in January of 2001 and a record low of -129.30 Thousand in April of 2017.
Unemployment Change in Spain is expected to be -50.80 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Change in Spain to stand at 30.60 in 12 months time. In the long-term, the Spain Unemployment Change is projected to trend around -32.10 Thousand in 2020, according to our econometric models.