Spain's unemployment rate fell to 14.57 percent in the third quarter of 2021 from 15.26 percent in the previous three-month period, amid the easing of COVID-19 restrictions but came above market expectations of 14.2 percent. Also, the unemployment rate remains above the 13.78% rate recorded in the fourth quarter of 2019 before the pandemic hit Spain. The number of unemployed people decreased by 127.1 thousand from the previous period to 3.416 million and employment increased by 359.3 thousand to 20.031 million. Across regions, Cataluña’s jobless population shrank the most (-51,900), followed by Baleares (-28,400), Castilla y León (-27,600), and Galicia (-25,700). Finally, the labor force participation rate rose to 59.14 percent from 58.58 percent in the previous period. source: National Statistics Institute (INE)
Unemployment Rate in Spain averaged 16.43 percent from 1976 until 2021, 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 December of 2021.
Unemployment Rate in Spain is expected to be 15.40 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 14.40 percent in 2022 and 13.70 percent in 2023, according to our econometric models.