Spain's unemployment rate rose to 16.26 percent in the third quarter of 2020, the highest since the first quarter of 2018 and above market expectations of 15.90 percent, as the coronavirus pandemic hit the labor market. The rate does not include furloughed workers, meaning the true figure could be significantly higher. The number of unemployed people increased by 355 thousand to 3.723 million, the largest quarterly jump since 2012; while employment rose by 569.6 thousand to 19.177 million, after falling by a record pace in the previous period. Young people were the most affected as the unemployment rate among the under 25s was up to 40.45 percent in the third quarter. Q3 is usually the time of the year when more people are working in Spain as tourism boosts seasonal employment, but hospitality, accommodation and transport are among those activities that have suffered the most from Covid-19. source: National Statistics Institute (INE)

Unemployment Rate in Spain averaged 16.45 percent from 1976 until 2020, 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 2020.

Unemployment Rate in Spain is expected to be 19.00 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 17.70 in 12 months time. In the long-term, the Spain Unemployment Rate is projected to trend around 17.20 percent in 2021 and 15.50 percent in 2022, according to our econometric models.

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Spain Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
16.26 15.33 26.94 4.41 1976 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-01-28 08:00 AM Q4 13.8% 13.92% 14% 13.80%
2020-04-28 07:00 AM Q1 14.41% 13.78% 15.6% 15.5%
2020-07-28 07:00 AM Q2 15.33% 14.41% 16.7% 17.2%
2020-10-27 08:00 AM Q3 16.26% 15.33% 15.9% 16.5%
2021-01-28 08:00 AM Q4
2021-04-28 07:00 AM Q1
2021-07-28 07:00 AM Q2
2021-10-27 08:00 AM Q3


News Stream
Spain Jobless Rate at 2-1/2-Year High in Q3
Spain's unemployment rate rose to 16.26 percent in the third quarter of 2020, the highest since the first quarter of 2018 and above market expectations of 15.90 percent, as the coronavirus pandemic hit the labor market. The rate does not include furloughed workers, meaning the true figure could be significantly higher. The number of unemployed people increased by 355 thousand to 3.723 million, the largest quarterly jump since 2012; while employment rose by 569.6 thousand to 19.177 million, after falling by a record pace in the previous period. Young people were the most affected as the unemployment rate among the under 25s was up to 40.45 percent in the third quarter. Q3 is usually the time of the year when more people are working in Spain as tourism boosts seasonal employment, but hospitality, accommodation and transport are among those activities that have suffered the most from Covid-19.
2020-10-27
Spain Jobless Rate Climbs to 2-Year High as COVID-19 Hits
Spain's unemployment rate rose to 15.33 percent in the second quarter of 2020, the highest since the first quarter of 2018, but below market expectations of 16.70 percent with the extent of the coronavirus crisis being masked by leaving out people on furlough and those not meeting technical jobless criteria. The number of unemployed increased by 55 thousand to 3.368 million, while employment declined by a record 1.074 million to 18.607 million. In addition, 1.019 million people dropped out of the labor force.
2020-07-28
Spain Jobless Rate Hits 1-Year High in Q1
Spain's unemployment rate increased to 14.41 percent in the first quarter of 2020 from an 11-year low of 13.78 percent in the previous three-month period, below market expectations of 15.60 percent. That was the highest rate since the first quarter of 2019 as the Covid-19 crisis escalated. The number of unemployed rose by 121 thousand or 3.79 percent to 3.31 million, while the number of employed declined by 285.6 thousand or 1.43 percent to 19.68 million, the biggest decrease in employment since 2013.
2020-04-28
Spain Jobless Rate Drops to 11-Year Low
Spain's unemployment rate fell to 13.80 percent in the fourth quarter of 2019 from 13.92 percent in the previous three-month period and below market expectations of 14.00 percent. That was the lowest jobless rate since the last quarter of 2008 as the number of unemployed declined by 22,500 to 3.192 million and employment rose by 92,600 to 19.967 million. Private sector employment went up by 67,900 while job growth in the public sector was 24,700. Across sectors, employment increased in services (up 83,000), agriculture (up 47,600) and construction (up 14,000), while a decline was seen in the industry sector (down 52,100). The labor force participation rate was little-changed at 58.74 percent.
2020-01-28

Spain Unemployment Rate
In Spain, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.