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Spain's jobless rate rises to 12.9% in the first quarter
The unemployment rate in Spain rose from 11.76% at the end of last year to 12.9% in the first quarter of 2024, the Spanish National Institute of Statistics (INE) revealed today.
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Economia Espanha
The number of unemployed people rose by 117,000 between January and March, to more than 2.9 million. This is the largest increase in the first quarter of the year since 2020, when the pandemic hit.
Compared to the first quarter of 2023, when the unemployment rate was 13.26%, there was a drop of more than three tenths.
According to the INE, employment decreased in the first three months of this year in Spain in all areas and sectors, but with services leading the way, despite the fact that Easter week and holidays, which have a positive impact on tourism, were in March.
Spain has one of the highest unemployment rates in the European Union.
However, in June 2023 it reached its lowest level since 2008 (11.6%), thanks to the dynamism of the economy, particularly tourism, after the downturn caused by the COVID-19 pandemic.
Read also: Portugal's debt interest rates fall to two, five and 10 years (Portuguese version)
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