Unemployment in Spain reaches lowest March figure since 2008

Unemployment in Spain decreased notably to hit its lowest figure for the month of March since 2008, data from the country’s Labour Ministry showed on Tuesday.

The number of unemployed fell by 33,405 from a month ago to 2.73 million. It is the lowest March level since 2008.

Unemployment in services decreased by 31,294 and by 2,055 in the industry sector. Unemployment in agriculture was down 1,502 and by 333 in construction.

Data showed that unemployment among young people aged below 25 years also decreased in the month of March by 2,748 people or 1.32%. Unemployment among youth totalled 205,007, the lowest figure for March.

During this March, 20,901,967 people registered in the country’s social security scheme, a new record. The figure represents an increase compared to February of 193,585 people, according to the Spanish social security and inclusion ministry.

In one year, 525,414 new jobs were created (2.6% more), with ‘indefinite full-time contracts growing’, according to the Labour Ministry.

Prime Minister Pedro Sánchez wrote on X (formerly Twitter): ‘In March we reached the historical record of 21 million Social Security affiliates for the first time. There have never been so many workers contributing, unemployment is down and temporary employment is at a minimum. We are closer to our goal of full employment.’

España hoy es mejor gracias a las políticas de empleo que hemos estado desarrollando durante estos años.

Un mes más vemos los resultados con el descenso del paro. Se ha reducido en 33.405 personas, colocándonos en la menor cifra de marzo desde 2008. pic.twitter.com/OX145WHdej
— Yolanda Díaz (@Yolanda_Diaz_) April 2, 2024