Spain's unemployment rate falls to lowest since 2008 to 10.29%

Spain's unemployment rate fell to 10.29 per cent in the second quarter of 2025 from 11.36 per cent in the preceding three months, data from the National Statistics Institute (INE) showed.

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The rate was at the lowest level since the first quarter of 2008, when it stood at 9.6 per cent, INE said. It also represents the lowest rate in a second quarter since 2007.

Economists polled by Reuters had forecast that the rate would decline to 10.7 per cent.

The April-June period tends to be the strongest quarter for employment in Spain, as the tourism sector usually sees high activity before the traditional summer slump hits other industries.

After adding over 500,000 new jobs in the quarter, the country surpassed the milestone of 22 million formal workers for the first time.

Labour Minister Yolanda Diaz told SER radio the data was very positive but called on employers to improve salaries, which she said were far below those of other European countries despite a high cost of living.