Spain's unemployment hits 2.602 million, lowest since 2007

In October 2024, the number of people registering as unemployed in Spain increased by 26,769, or 1%, bringing the total to 2.602 million.

Spain's unemployment hits 2.602 million, lowest since 2007

This figure represents the lowest count for this month since 2007, surpassing analysts' expectations of a rise of 26,500. By economic sector, unemployment rose in industry by 1,547 people (+0.77%), in agriculture by 1,603 people (+1.87%), and in services by 22,332 (+1.21%). In contrast, the construction sector saw a decrease of 1,676 people (-0.85%). Additionally, the number of individuals without prior employment rose by 2,963 (+1.23%). Unemployment among young people under 25 also climbed by 8,361 (+4.35%) compared to the previous month.

All regions see unemployment rise; yearly drop of 157,350

All 17 autonomous communities reported an increase in registered unemployment, with the most significant increases seen in Andalusia (7,723), Castilla-La Mancha (3,859), and Catalonia (2,909). Year-over-year, unemployment has dropped by 157,350 individuals, or 5.7%.