The unemployment rate in Spain declined to 14.02 in the second quarter of 2019 from 14.70 percent in the previous period but above market expectations of 13.7 percent. It was the lowest jobless rate since the last quarter of 2008. Among regions, the lowest rates were recorded in Comunidad Foral de Navarra (7.58 percent), País Vasco (8.63 percent) and Cantabria (9.01 percent) and the highest in Melilla (26.21 percent), Ceuta (24.61 percent) and Andalucía (21.04 percent). In Catalonia, jobless rate was 11.17 percent and in Madrid 10.54 percent. Unemployment Rate in Spain averaged 16.50 percent from 1976 until 2019, 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.
Unemployment Rate in Spain is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Spain to stand at 13.70 in 12 months time. In the long-term, the Spain Unemployment Rate is projected to trend around 12.90 percent in 2020, according to our econometric models.