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SPAIN DATA: Registered Unemployment Rises Less Than Seasonal Norms In October

SPAIN DATA
Data BulletEurozoneCEEMEASpainBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Spanish October registered unemployment claims were in line with consensus at 26.8k (vs 27.0k cons, 3.2k prior). The data are not seasonally adjusted, but the rise is less than the 2010-2023 October average of 63.5k.

  • Similarly, the 67.8k monthly rise in registered employment was above the 28.5k October average from 2010-2013.
  • A key tenet of Spain’s economic outperformance post-covid has been strong population growth, which has fed through into falling unemployment rates.
  • In Q2, Spanish LFS unemployment was 11.2%, its lowest since 2008.

 

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Spanish October registered unemployment claims were in line with consensus at 26.8k (vs 27.0k cons, 3.2k prior). The data are not seasonally adjusted, but the rise is less than the 2010-2023 October average of 63.5k.

  • Similarly, the 67.8k monthly rise in registered employment was above the 28.5k October average from 2010-2013.
  • A key tenet of Spain’s economic outperformance post-covid has been strong population growth, which has fed through into falling unemployment rates.
  • In Q2, Spanish LFS unemployment was 11.2%, its lowest since 2008.