15th April 2024
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Unemployment in Spain reaches its lowest level since 2007

Unemployment in Spain has reached its lowest level since 2007, having decreased 4.59% since December 2022, landing at a figure of 2,707,456 unemployed in December 2023 – a drop of around 130,000 people.

2023 also closed with near employment highs, with over 20.8 million people employed and affiliated with Spanish Social Security.

The final figures reveal the highest annual job creation since 2018, excluding the post-Covid recovery of 2021, with more than 539,000 additional workers, despite being a challenging year due to the inflation crisis and the record rise in interest rates. 

Catalonia, Valencia and La Rioja were the only three regions that saw an increase in unemployment between November and December 2023, while the Balearic Islands saw the highest increase in employment over the same period, at 3.74%

Labour Minister Yolanda Díaz said that young people and women are those ‘who are benefitting the most from employment policies’.

‘The total number of women unemployed is the lowest since 2008, with 1,616,973 women,’ she wrote on X (formerly Twitter), while ‘youth unemployment has reduced by 12,014, the lowest in the entire historical series for any month’.

Spanish Prime Minister Pedro Sánchez wrote: ‘Spain has created more than half a million jobs in 2023 and there are already almost 21 million [affiliated to social security]. Less youth unemployment, record female employment and more permanent contracts. It is possible to grow, create jobs and advance rights.’

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