Spanish Joblessness Overshoots Forecasts

Spain's registered unemployment rose by 43,128 from the prior month to 2.42 million in October 2026, still the lowest figure for the month since 2007. Analysts had expected a smaller 18,700 increase. Registered unemployment increased across nearly all sectors in October, with services accounting for the largest rise (+26,853), followed by industry (+1,911) and agriculture (+1,547). Construction remained broadly stable (+102), while unemployment among first-time jobseekers climbed by 12,715. Among young people under 25, unemployment rose by 15,832 people (8.37%) compared to the previous month, bringing the total to 204,973. The total number of unemployed people increased in all 17 autonomous communities, led by Catalonia (+8,174), Valencian Community (+6,716) and Castile and León (+4,404). Year-on-year, unemployment has decreased by 21,133 people.

Spain's registered unemployment rose by 23,587 from the previous month in September 2026, more than market expectations of a 17,600 increase. Total jobless stood at 2.379 million, marking the lowest September total since 2007. The increase was driven by higher unemployment in services (+6,707), agriculture (+601), and among first-time job seekers (+17,966), largely due to the ongoing extraordinary regularization process, which is allowing previously undocumented workers already living in Spain to register with public employment services for the first time. Separate Social Security data showed net employment increased by 108,832 in September, bringing total formal employment to 22.48 million.

Spain's registered unemployment climbed by 44,419 from the prior month to 2.356 million in August 2026, far exceeding expectations for a 15,400 increase, yet the figure remains the lowest recorded for August since 2007. The increase was broad-based across most sectors, led by services (+28,563), followed by construction (+4,669), industry (+3,731), and people with no previous employment (+8,368). Agriculture was the only sector to record a decline, with unemployment falling by 912 people. Youth unemployment among those under 25 also increased by 8,168 from the previous month, but remained below 170,000, specifically at 167,730. By region, Catalonia recorded the largest rise in unemployment (+14,594), followed by Madrid (+6,881) and the Valencian Community (+5,847). All other regions also saw increases, apart from Ceuta (-148). Despite the monthly rise, registered unemployment was down by 70,593 people compared with August 2025.