Unemployment in Spain down by 58,650 in May to 2,608,850 while Social Security enrolment reaches new record of 21.3 M employed people


The number of unemployed registered in the offices of the public employment services fell by 58,650 people in May compared to the previous month, representing a decrease of 2.2% in percentage terms, according to data published on Tuesday by the Ministry of Labour and Social Economy.

After the decline in May, driven mainly by the services sector, the total number of unemployed stood at 2,607,850 unemployed, its lowest figure for a month of May since 2008, the Ministry stressed.

The fall in unemployment in May, the fourth in a row, is higher than the fall in unemployment in the same month in 2023, when it fell by 49,260 people, but lower than in May 2022, when unemployment fell by almost 100,000 people.

On the other hand, Social Security gained 220,289 average affiliates in May, to a new record of 21.3 million employed.

Employment increased by 62,505 in the seasonally adjusted series and female enrolment exceeds 10.1 million employed.

Youth unemployment fell to 179,075, its lowest level in the whole historical series.

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.