An ongoing and tough recovery
Spanish unemployment rate skyrocketed in 2008, jumping from a stable 8.6 percent in the first quarter of 2008 up to 17.24 percent during the same quarter a year after. The Spanish unemployment crisis hit hardest in 2013, when a record high of 27 percent of the population did not have a job. In numbers, that share translates into 6.3 million professionals left out of the workforce. The job market initiated a recovery thereafter, making moderate and laborious progress and reducing the numbers to approximately 3.1 million unemployed workers – that is 13.3 percent of the active population in the last quarter of 2021.
The unemployment situation in the European Union
Unemployment rate in Spain is considerably higher than that of the rest of the European Union, which stood at a rate of 7.1 percent in June 2021. Greece was however the European country that featured the highest unemployment rate during that period, with 14.6 percent of the labor force out of the job.