Unemployment in Spain at lowest level since 2008

by Lorraine Williamson
lowest level unemployment

Spain ended June with 116,000 new jobs. The number of unemployed people continues to fall and amounts to less than 2.9 million. That is the lowest level of unemployment for the last 14 years. The figures confirm the positive trend in employment, despite high inflation that may continue for some time. 

The figures are slightly less positive than in 2021, when the corona restrictions were lifted. But if we exclude that year, the June figures are the best in the historical series, well above previous years. Taking into account seasonal adjustment, the number of social security registrations rose by 77,000 people. This is the best figure since November.   

Decrease unemployment 

Registered unemployment fell by 42,000 people to 2.88 million, the lowest level since 2008, although without seasonal adjustment there would have been a slight increase, by 3,700 people. In fact, the decrease in the number of people registered with the employment services is lower than that of previous years, with the exception of 2020. On an annual basis, the number of unemployed fell by 20%.   

ASSSA - health insurance in Spain

Open-ended contracts on the rise 

The Ministry of Labour also provided data on indefinite contracts: in June, 44.3% of signed contracts were of indefinite duration, totalling 783,595, which represents a new historical maximum and an increase of 353% compared to last year. 

Of these, almost half, 312,000, were full-timers, a threefold increase from last year, 178,000 were part-timers (316% more) and 292,000 were permanent, a tenfold increase. 

Also read: Unemployment in Spain is double European average

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