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Unemployment rate in Madrid from Q1 2013 to Q4 2020

Madrid hit a historic record of 20.45 percent unemployment rate during the fourth quarter of 2013. As the Spanish job market rallied over a long recovery process, Madrid’s jobless population rate went down and reached 13.25 percent in the third quarter of 2020. Spain’s capital however does not come off too badly in the unemployment results by autonomous community, with the regions of Extremadura and Andalusia expected to top the rate lists with 20.9 percent and 23.9 percent respectively as of the same period.

An ongoing and tough recovery

Spanish unemployment rate skyrocketed in 2008, jumping from a stable 8 percent in the first quarter of 2018 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 3.5 million unemployed workers – that is 14.7 percent of the active population in the first quarter of 2019.

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 6.5 percent in January 2019. Greece was however the European country that featured the highest unemployment rate during that period, with 18.5 percent of the labor force out of the job. Youth unemployment figures in the European Union looked slightly less optimistic, with figures reaching 15 percent in 2019.

Unemployment rate in the Spanish autonomous community of Madrid from 1st quarter 2013 to 3rd quarter 2020

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Source

Release date

2020

Region

Spain

Survey time period

Q1 2013 to Q3 2020

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