The unemployment rate in Spain experienced a surge, reaching 13.26% during the first quarter
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- 17 May 2023
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This represents the highest figure recorded since the corresponding period of 2022, as reported by the Working Population Survey conducted by the Spanish National Statistics Institute (INE).
Between January and March of this year, the number of jobless individuals increased by 103,800, reflecting a 3.4% rise compared to the previous quarter. Concurrently, there was a decline of 11,100 job positions (-0.05%), marking the smallest decrease in the first quarter since 2007.
By the end of March, the total number of unemployed individuals reached 3,127,800, while there were 20,452,800 people employed in Spain. The upturn in unemployment witnessed in the first quarter of this year was the most significant during a first quarter since 2020, when the advent of the Covid pandemic resulted in 121,000 job losses. In contrast, last year's first quarter saw a lower number of individuals becoming unemployed, with 70,900 people affected.
The unemployment rate experienced an increase of nearly four-tenths of a percentage point, reaching 13.26% in the first quarter. This figure represents the highest level observed since the first quarter of 2022.
Conversely, the employment rate remained stable at 58.55% as the number of employed individuals rose by 92,700 between January and March, reflecting a growth of 0.4%.
Over the past year, unemployment in Spain has declined by 47,000 individuals (-1.5%), and the country has generated 368,000 job opportunities (+1.8%). Furthermore, the total number of employed individuals has increased by 321,100 (+1.4%).
According to the INE's findings, the number of wage earners declined by 23,200 people (-0.1%) during the first quarter. This decrease was predominantly driven by a reduction in temporary employment (-117,000), while the number of wage earners with permanent contracts increased by 93,800 (+0.66%) between January and March, surpassing 14.35 million. Consequently, the rate of temporary employment dropped by six-tenths of a percentage point, settling at 17.28%.
