Spain Jobless Rate Rises in Q1

Spain’s unemployment rate climbed to 10.83% in the first quarter of 2026, up from 9.93% in the previous period, above market expectations of 9.8%. The number of unemployed persons rose by 231,500, reaching a total of 2.71 million. This seasonal spike follows the conclusion of the holiday period, a typical trend in the Spanish labor market. Employment figures saw a contraction, with 170,300 jobs lost, bringing the total number of occupied persons to 22.29 million. The services sector bore the brunt of the decline, shedding 228,400 positions, while industry showed resilience with 28,100 new roles. Despite the quarterly dip, the annual trend remains positive, with unemployment falling by 80,600 compared to Q1 2025. The Labor Force Participation Rate increased slightly to 58.86%, as the active population grew by 447,000.