Spain’s total employment decreased -92.5k, or- 0.42% QoQ, in Q1 2025, but over the last year, employment is up 515.4k.

• The decline in employment was driven by a -112.3k drop in services employment which was partially offset by agriculture employment up 25k.
• Full-time employment declined by -109.4k people. Part-time employment rose by 16.9k.
• Private employment was basically unchanged as public employment accounted for almost all of the drop in employment.
• When seasonally adjusted, employment was actually up 0.73% QoQ

• The unemployment rate increased 75 bps to 11.36%, and the total number of unemployed increased 193.7k to 2.79 million.
• The increase in unemployment in Q1 2025 was the largest for a Q1 in over 10 years.
• After seasonal adjustment, employment was actually down -0.73% QoQ.