Publications

Social Security affiliation increased by 232,000 people, and unemployment fell by 36,300. Adjusted for seasonality, it is estimated that employment reached 57,000 contributors, but unemployment grew by 2,300. Significant effects from the extraordinary immigrant regularization process are not yet noticeable.

In this edition of the QLMO, we assess recent labour market developments using the information available through Q1 2026. We review the main aggregate indicators and explore a number of issues related to working conditions, immigration, and youth emancipation.

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%.

Social Security enrollment increased by 97,000 people and unemployment rose by only 3,600. After adjusting for seasonal factors, job creation is estimated to have accelerated significantly (reaching 46,000 contributors). However, the number of unemployed fell by 13,000, 6,000 fewer than in January.

In December, Social Security affiliation increased by 19,200 people and unemployment fell by 16,300. After seasonal adjustment (SA), the number of contributors is estimated to have risen by 31,000, and the number of unemployed declined by 7,000. Overall, 2025 ended with 487,300 more affiliates and 155,000 fewer unemployed

In this edition of the QLMO, we analyze the labor market situation with data available up to the first quarter of 2024. We review the trends of the main indicators, examine the differences between the Labor Force Survey and administrative records, and highlight Spain's productivity deficit.

Employment hardly changed between January and March, improving expectations. After adjusting by seasonality, job creation and total hours worked accelerated (to 1.2% and 0.6% t/t SWDA, respectively). In addition, the unemployment rate (12.6% SWDA) and the temporary employment rate (17.8% SWDA) fell.