Madrid hit a historic record of 20.45 percent unemployment rate during the fourth quarter of 2013. As the Spanish job market rallied over a long recovery process, Madrid’s jobless population rate went down and reached 9.72 percent in the fourth quarter of 2023. Spain’s capital however does not come off too badly in the unemployment results by autonomous community, with rhe regions of Extremadura and Andalusia top the list with 17 percent each in the first quarter of 2024.
An ongoing and tough recovery
Spanish unemployment rate skyrocketed in 2008, jumping from a stable 9.6 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 11.8 percent of the active population in the last quarter of 2023.
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INE (Spain). (January 26, 2024). Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 4th quarter 2023 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/
INE (Spain). "Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 4th quarter 2023." Chart. January 26, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/
INE (Spain). (2024). Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 4th quarter 2023. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/
INE (Spain). "Unemployment Rate in The Spanish Autonomous Community of Madrid from 1st Quarter 2013 to 4th Quarter 2023." Statista, Statista Inc., 26 Jan 2024, https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/
INE (Spain), Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 4th quarter 2023 Statista, https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/ (last visited December 22, 2024)
Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 4th quarter 2023 [Graph], INE (Spain), January 26, 2024. [Online]. Available: https://www.statista.com/statistics/456195/unemployment-rate-in-madrid/