Unemployment rate in Valencia from Q1 2013 to Q4 2023
The coastal Region of Valencia had an unemployment rate of 11.79 percent during the third quarter of 2023. This is lower than the regions of Ceuta, Melilla, Andalusia, and Extremadura, which topped the rate list with over 17 percent each during the first quarter of 2024.
An ongoing and tough recovery
Spanish unemployment rate skyrocketed in 2008, jumping from a stable 8.6 percent in the first quarter of 2008 up to 17.24 percent during the same quarter a year after. The Spanish unemployment crisis hit hardest in 2013, when a record high of 27 percent of the population did not have a job. In numbers, that share translates into 6.3 million professionals left out of the workforce. The job market initiated a recovery thereafter, making moderate and laborious progress and reducing the numbers to approximately 11.74 percent of the active population in the fourth quarter of 2023.
The unemployment situation in the European Union
Unemployment rate in Spain is considerably higher than that of the rest of the European Union, which stood at a rate of 6 percent in October 2023. Spain ended up overtaking Greece as the European country that featured the highest unemployment rate during that period.
An ongoing and tough recovery
Spanish unemployment rate skyrocketed in 2008, jumping from a stable 8.6 percent in the first quarter of 2008 up to 17.24 percent during the same quarter a year after. The Spanish unemployment crisis hit hardest in 2013, when a record high of 27 percent of the population did not have a job. In numbers, that share translates into 6.3 million professionals left out of the workforce. The job market initiated a recovery thereafter, making moderate and laborious progress and reducing the numbers to approximately 11.74 percent of the active population in the fourth quarter of 2023.
The unemployment situation in the European Union
Unemployment rate in Spain is considerably higher than that of the rest of the European Union, which stood at a rate of 6 percent in October 2023. Spain ended up overtaking Greece as the European country that featured the highest unemployment rate during that period.
