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Spain Sheds 199,300 Jobs in August, Biggest Drop Since 2019

A seasonal correction led by education coincides with a modest gain in seasonally adjusted employment.

Overview

  • Registered unemployment rose by 21,905 to 2,426,511, the lowest August level since 2007.
  • Social Security affiliation stands at 21,666,203, about 476,800 more than a year ago despite the monthly drop.
  • Seasonally adjusted data point to a gain of 29,836 affiliates, signaling continued momentum.
  • Education shed about 75,869 workers and services concentrated the rise in jobless claims, with Catalonia and Madrid posting the largest employment declines.
  • Employers registered about 1.04 million hires in August with roughly 37% permanent, and self-employed contributors fell by 8,662.