Since the pandemic, Spain’s labour force participation rate has risen by 1.6 percentage points, reaching 59% of the working-age population in 2025. While the underlying trend is structural, most of the increase since 2020 reflects cyclical factors.

Social Security affiliation increased by 211,500 people and unemployment dropped by 22,900. On a seasonally adjusted (SA) basis, job creation is estimated to have accelerated to 76,000 contributors, while the number of unemployed fell by 17,400. For 1Q26, employment grew 0.6% q/q (SA) and unemployment contracted by 1.8%.