Spain’s Unemployment Data for December 2024

(Reuters) – Spain ended 2024 with 2.56 million people unemployed, the fewest in December since 2007, according to the Labour Ministry.

The number of jobless in Spain fell 0.98% in December from the previous month, or by 25,300 people. This figure was 5.4% lower than December 2023, but above the 2.13 million registered in December 2007.

> “We finished the year 2024 as we had started it: reducing unemployment, fighting precariousness, and the will to go forward,” said Labour Minister Yolanda Diaz on X. “In 2025, we will keep improving data and win over more time to live better.”

The number of unemployed in December was slightly higher than in the summer, which is a peak season for temporary hires in the tourism sector.

Notably, unemployment decreased in the services and agriculture sectors, while it rose in construction and industry.

Spain’s unemployment rate, which has historically been higher than in other euro zone countries, has been on a constant decline since hitting its peak in mid-2014 as the economy has recovered.

In contrast to other large euro zone economies, Spain is growing at a robust pace, with an expected growth of 3.1% in 2024 according to the Central Bank.

The unemployment rate was 11.21% in the third quarter, the lowest since 2008. The fourth-quarter rate will be released next month.

For those aged under 25, the number of unemployed fell 5.54% in December to 185,801, marking the lowest level for this age group in historical records, as stated by Diaz.

Additionally, Spain added 42,700 net formal jobs in December, bringing the total to 21.34 million, after seasonality adjustments according to a separate report from the Social Security Ministry.