Spain finished 2024 with an increase of 468.100 people in employment as unemployment rates drops to 10.6%. – CSN News

Tuesday, January 28, 2025 12:10

The last year in Spain ended with a new employment record: 468.100 total jobs were created in the entire year. This is according to data published by the INE, Spain’s national institute for statistics. The number of employed people reached a new record in the last quarter. This represents an increase by 0.83%.

As employment grows, the data show that the Spanish labour market is improving. But the pace has slowed down from 2023 levels, when 749k jobs were created, a 37.5% increase, and is now at the level of 2019.

The unemployment rate dropped by 265 300 to 10.6%. This is the lowest since the second quarter 2008. Increased employment and a reduction in unemployment was possible due to the growth of the active labor force which increased by 202,800 people last year. The employment rate has continued to rise and reached an historic high during the fourth quarter, up to 67.5%. According to the Ministry of Economy’s statistics, women have seen a significant reduction in unemployment, with 167,000 women having been unemployed less over the past year.

In 2024’s last quarter, the number unemployed dropped by 158.600 (or 5.76%). This is the lowest unemployment rate since the second quarter of 2008. This is lowest level of unemployment since the second half of 2008.

Data shows that nearly 97% (453,500) of all new jobs in 2024 will come from the private sector. The temporary employment rate continues to decline, having dropped more than 1 point in the past year and reaching 15,48%. The number of households that had all their members unemployed dropped by 94.700 while the number of households with employed members increased by 249,900.