Spain’s unemployment drops to record low in December

In December 2024, Spain’s jobless claims fell by 25,300, or 1%, to 2.561 million, exceeding market expectations of a 46,500 drop.

Spain’s unemployment drops to record low in December

This marked the lowest level since December 2007. By sector, unemployment decreased in services (-21,408) and agriculture (-2,019), while it rose in construction (+4,396) and industry (+875). The number of people without prior employment dropped by 7,144. Youth unemployment (under 25) decreased by 10,903, reaching 185,801, the lowest on record. Unemployment fell in 13 of Spain's 17 autonomous communities, with the largest reductions in Andalusia (-11,474), Madrid (-3,594), and Galicia (-2,904).

Spain adds 42,700 jobs in December, unemployment down 5.4% YoY

A separate report showed that Spain gained 42,700 net formal jobs in December, totaling 21.34 million. Year-on-year, unemployment declined by 146,738 people, or 5.4%.