The number of unemployed people in Spain decreased by 130,197 last year, according to data released by the Ministry of Labour and Social Economy. Currently, a total of 2,707,456 people are unemployed in Spain, marking a 4.59 per cent fall in the past 12 months, the best start-of-the-year figures since 2007.

Unemployment dropped across all sectors of the economy last year, with the service sector experiencing a reduction of 81,333 unemployed people, followed by industry, construction, and agriculture reporting decreases in unemployment by 17,731, 15,483, and 13,339 respectively.

The data also reveals that 1,616,973 women and 1,090,483 men are registered as unemployed. Additionally, 539,740 new jobs were created in Spain last year, taking the total number of registered workers to 20,836,010 as per Spain’s Social Security system.

Secretary of State for Labour, Joaquin Perez Rey, noted the figures are the lowest in the past 16 years, with the women unemployment level reaching its lowest since 2008. He also highlighted that 15 million workers are now on indefinite contracts.

However, the data did reveal some potential issues for the future. The reduction in unemployment in December was the smallest in the past 10 years (excluding 2020 due to the pandemic), suggesting a potential slowdown in 2024.