Spain’s Unemployment Hits 16-Year Low

(MENAFN) Spain's labor market delivered a landmark performance in March, with unemployment dropping to its lowest point for that month since 2008 and Social Security enrollment surpassing 22 million on a seasonally adjusted basis for the first time in the country's history, government data published Monday showed.

Registered jobless figures shed 22,934 from the prior month, bringing the total to 2,419,712 by the close of March. Meanwhile, average Social Security affiliation climbed by 211,510 to reach 21,882,147 — one of the most significant March gains on record.

When adjusted for seasonal factors, affiliation reached 22,010,532, a rise of 80,274 from February, clearing the 22 million threshold for the first time.

The services sector continued to anchor Spain's job growth, buoyed largely by the Easter holiday calendar. The hospitality industry alone absorbed 79,701 new workers over the month, underscoring how tourism-linked activity is driving near-term hiring momentum. Taken together, the figures reinforce the broader resilience of Spain's employment landscape.

Prime Minister Pedro Sánchez seized on the results via social media, noting that Spain had crossed the 22 million Social Security affiliates mark for the first time in the nation's history.

Second Deputy Prime Minister and Labor Minister Yolanda Díaz also celebrated the numbers, drawing particular attention to declining unemployment rates among women and younger workers.

"They are the result of all the labor reforms we have undertaken," she said, adding that the government would "continue working for the rights and protection of workers."

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