Spain’s December unemployment rate is the lowest since 2007 as economy continues to grow

SPAIN finished 2024 with 2.56 million people unemployed- the lowest December figure for 17 years.

The total of people in Spain registering as jobless fell to 2.56 million in December- down 0.98% from a month earlier, or by 25,300 people, according to the Labour Ministry.

The figure was 5.4% lower than in December 2023, but above the 2.13 million registered without a job in December 2007.

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Jobs dropped in service sectors like tourism and agriculture while rising in construction and industry.

The number of people registered with Social Security system rose by 42,700 during the last month of 2024, and the number of people registered as working stood at 21.34 million.

“We finished the year 2024 as we had started it: reducing unemployment, fighting precariousness and will to go forward,” said Labour Minister Yolanda Diaz.

“In 2025 we will keep improving the figures and win over more time to live better.”

The job figures come two days after Spain’s Economy Minister Carlos Cuerpo predicted that the country would see its GDP grow by 2.5% in 2025.

“Spain will continue to be the motor of European growth in 2025 and 2026,” Cuerpo stated in an interview with Radio Nacional.

In stark contrast with the other euro zone large economies, Spain is growing at a solid rate and is expected to have expanded by 3.1% in 2024, according to its central bank.