In January, Spain experienced a smaller-than-anticipated rise in unemployment, reaching the lowest level for this month in 17 years, as the economy demonstrated significant growth, according to official data released on Tuesday.
The labor ministry reported a monthly increase of 38,725 in unemployment figures, falling short of the projected rise of 45,400. When compared to January 2024, there was a reduction in unemployment by 168,417 individuals, representing a 6.08 percent decline.
The data indicated that registered unemployment numbers were at 2.599 million—the lowest for any January in the past 17 years. Furthermore, unemployment in the construction sector decreased by 4,527, while the industry sector saw a reduction of 241. Nonetheless, these gains were counterbalanced by a substantial increase of 44,595 in unemployment within the services sector and 1,099 in agriculture.
Youth unemployment, encompassing individuals under the age of 25, saw an increase of 2,563 from the previous month, totaling 188,364—the lowest figure for January in the historical data series.
Moreover, in the previous month, the Spanish statistical office, INE, reported that the unemployment rate fell to its lowest since the second quarter of 2008, registering at 10.61 percent in the fourth quarter of 2024, a decrease from 11.21 percent in the third quarter.
