Spain's unemployment rate increased to 13.65 percent in the first quarter of 2022 from an over thirteen-year low of 13.33 percent in the previous three-month period, as the economic recovery began to falter amid strong headwinds from soaring energy and raw material costs and the war in Ukraine. The number of unemployed people rose by 70.9 thousand from the previous period to 3.175 million and employment shrank by 100.2 thousand people to 20.084 million. By sector, unemployment rose in services (up by 96,300 persons), industry (up by 15,700 persons), and construction (up by 1,700 persons). Conversely, unemployment fell in agriculture (down 6,300 persons). The labor force participation rate fell to 58.50 percent from 58.65 percent in the previous period. source: National Statistics Institute (INE)
Unemployment Rate in Spain averaged 16.40 percent from 1976 until 2022, 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 June of 2022.
Unemployment Rate in Spain is expected to be 13.20 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 11.00 percent in 2023 and 10.50 percent in 2024, according to our econometric models.