At a rate of 11.76 percent in the last quarter of 2023, Spain was one of the countries with the highest unemployment rates in the European Union. As of the third quarter of 2005, the unemployment rate in Spain was at roughly 8.4 percent, the lowest recorded in the period under consideration. However, a few years later, by the third quarter of 2009, it had more than doubled. It was not until 2016 that Spain witnessed a downward trend in its unemployment rate.
Unemployment in Spain
The age group with the highest distribution of unemployment is that of teenagers (16 to 19 years). Recent quarterly unemployment figures in Spain show that unemployment peaked in the first quarter of 2013, whereby there were approximately 6.28 million inhabitants unemployed, by the same quarter in 2023 unemployment had decreased by over 3 million. This trend is also reflected in the number of people in employment in Spain. opportunities
The situation in the European Union
Spain was the European country with the highest unemployment rate in August 2023, with nearly 12 percent of the labor force out of work. This figure is considerably higher than that of the rest of the European Union, which had an average unemployment rate of six percent as of the same period. In terms of youth unemployment, figures in the European Union reached 14 percent in August 2023, although the numbers varies greatly across the countries. While Greece and Spain topped the list at a youth unemployment rate of 23.5 and 26.8 percent, Germany was at the bottom of the list with just 5.7 percent of its youth out of a job.
Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023
The source adds the following information: "The Economically Active Population Survey (EAPS) has been conducted since 1964. The methodology currently in force is that of 2005.
It is a quarterly continuous research focusing on families, whose main purpose is obtaining data on workforce and its several categories (employed, unemployed), as well as on population out of the labOr force (economically inactive population).
The initial sample is about 65,000 families per quarter, which equals approximately 180,000 persons."
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INE (Spain). (January 26, 2024). Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en
INE (Spain). "Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023." Chart. January 26, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en
INE (Spain). (2024). Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en
INE (Spain). "Unemployment Rate in Spain from 1st Quarter 2005 to 4th Quarter 2023." Statista, Statista Inc., 26 Jan 2024, https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en
INE (Spain), Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023 Statista, https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en (last visited July 22, 2024)
Unemployment rate in Spain from 1st quarter 2005 to 4th quarter 2023 [Graph], INE (Spain), January 26, 2024. [Online]. Available: https://www.statista.com/statistics/453410/unemployment-rate-in-spain/?locale=en