FX.co ★ Spain Jobless Rate Rises More than Expected in Q1

Spain experienced a rise in its unemployment rate during the first quarter of 2025, reaching 11.36% from the previous quarter's 10.61%. This is the highest unemployment rate recorded in a year and surpasses the market's anticipated 10.7%. The number of unemployed individuals increased by 193,700, totaling 2.789 million, while the employment figures dropped by 92,500, leaving 21.76 million employed. Concurrently, the labor force expanded by 101,200, now amounting to 24.55 million. Both men and women saw a rise in unemployment, with an additional 77,200 men and 116,500 women without work. Specifically, the unemployment rate for women rose by 0.88 percentage points to 12.72%, and for men, it increased by 0.61 points to 10.14%. In terms of nationality, Spaniards—encompassing those with dual nationality—saw a rise of 147,900 in unemployment, while the figure for foreigners grew by 45,800. Sectors such as services (+124,900), industry (+21,100), construction (+13,700), and agriculture (+4,500) all reported job losses.