(El País, Emilio Sánchez Hidalgo, April 29, 2026)
The Active Population Survey (EPA) by Ine recorded in the first quarter of 2026 a sharp deterioration in the Spanish labor market, with unemployment rising to 10.83% (nine tenths more than the previous quarter), the worst increase for this period since 2013, while employment lost 170,300 jobs, almost double compared to the same quarter last year, and the number of unemployed increased by 231,500 units, the worst figure since 2013.
This is the classic post-Christmas and pre-summer seasonal decline, however accentuated by the international context linked to the war in Iran and the rise in energy prices; net of seasonal effects, the picture remains positive according to unions and the Government, while Confindustria and analysts highlight the slowdown due to geopolitical uncertainty, the absence of new state budgets, and greater tax pressure on businesses.
Despite the absolute numbers remaining among the best in recent years (22.29 million employed and active population over 25 million), Spain returns above the psychological threshold of 10% unemployment after having left it only at the end of 2025, with an annual job creation slowing down and a net decrease in unemployed reduced to only 80,600 units, the worst figure since the pandemic period.
Record growth of unemployment in the first quarter
“The unemployment rate in Spain rose in the first quarter of the year to 10.83%, nine tenths more than the previous figure, marking the largest increase in this period of the year since 2013. Spain returns above the 10% unemployment threshold.”
Sharp decline in employment
“Employment recorded a decrease of 170,300 employed in the first quarter — almost double compared to 2025 — and an increase of 231,500 unemployed — the worst figure for this variable in the last 13 years.”
Positive data net of seasonality
“Once the data are seasonally adjusted, employment increases and unemployment decreases, thus confirming a positive trend […] The data confirm a labor market capable of continuing to create quality employment even in a complex international context.”
Link with the conflict in Iran
“This is the first EPA report illustrating the possible effects of a US and Israeli attack on Iran […] the significant decline in job creation dynamics in the first quarter, caused by insecurity deriving from the conflict in Iran.”
Unemployment rate still high compared to Europe
“The unemployment rate in Spain remains very high compared to the rest of the European Union: the average of the Twenty-seven is 5.9%.”
(Excerpt from the newsletter by Giuseppe Liturri)
