Spain ends 2024 with 2.56 million unemployed, the lowest year-end figure since 2007 By Reuters

(Reuters) – Spain ended 2024 with 2.56 million unemployed, the lowest number in December since 2007, the Spanish Labor Ministry said on Friday on its website.

The number of people registered as unemployed in Spain decreased by 0.98% in December compared to the previous month, or by 25,300 people, the ministry said. The figure was 5.4% lower than in December 2023, but higher than the 2.13 million registered without a job in December 2007.

“We finished 2024 as we started it: reducing unemployment, fighting instability and the will to move forward,” Labor Secretary Yolanda Díaz said on the social media platform X. “In 2025, we will continue to improve the data and buy more time to make further progress.” “Live better.”

The number of unemployed people in December was slightly higher than in the summer, when the tourism industry typically hires thousands of temporary workers.

The number of unemployed people decreased in December in the services and agricultural sectors and rose in the construction and industrial sectors.

The unemployment rate, which has traditionally been higher in Spain than in other countries in the region, has fallen continuously since its peak in mid-2014 as the economy has recovered.

In stark contrast to other large economies in the eurozone, Spain is growing at a strong rate and is expected to grow by 3.1% in 2024, according to its central bank.

The Statistics Department said in October that the unemployment rate reached 11.21% in the third quarter, the lowest level since 2008. The fourth quarter rate is scheduled to be released next month.

The number of unemployed people under the age of 25 fell by 5.54% in December to a total of 185,801, reaching the lowest level in the historical series in December, Diaz said.

A separate report from the Ministry of Social Security showed that Spain gained 42,700 net formal jobs during the month to 21.34 million, when adjusted for seasonality.