Overview

• National projections show 5.31 million retirements by 2035 versus 1.82 million young entrants, roughly three exits for each entry to the labor market.
• Adecco estimates a deficit of 3.5 million social-security contributors within a decade unless Spain expands its working-age base.
• Up to 4.5 million foreign arrivals are projected for 2026–2035, about 80% of working age and 70% likely to seek jobs, with inflows easing from 723,000 in 2026 to 294,000 in 2035.
• Regional gaps are stark: Andalusia expects 854,300 retirements versus 291,000 entrants; Euskadi 260,600 versus about 56,000; Valencian Community 579,900 versus 208,260.
• Recommended measures include housing for newcomers, faster recognition of qualifications, active reskilling and senior workforce activation, plus targeted use of AI and automation to lift productivity.