Spain | Labor market resilience in March consolidates a positive quarter

Summary

Social Security affiliation increased by 161,500 people, and unemployment fell by 13,300. Seasonally adjusted figures show that contributors rose by 44,000 and the number of unemployed decreased by 8,000. In 1Q25, affiliation grew by 0.6% q/q (0.5% in 4Q24), and unemployment dropped by 1.9% q/q (-1.2% in 4Q24).

Key points

• Key points:
• Social Security affiliation exceeded expectations, driven by the services sector.
• The increase in temporary employment accompanied the creation of permanent jobs.
• The decline in unemployment moderated.
• All sectors contributed to the drop in unemployment.

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