May’s employment magic: Spain conjures up incredible job figures

IN a remarkable display of economic strength, Spain’s employment market has shown remarkable resilience. According to the latest data released by the Ministry of Inclusion on Friday, June 2, a staggering 200,411 jobs were created in May alone.

May’s incredible job creation propels the total number of contributors to Spain’s Social Security system to an all-time high of 20.8 million. Meanwhile, registered unemployment plummeted by 49,260 people, as reported by the Ministry of Employment.

Employment data from April and May reveal that Spain is enjoying its lowest unemployment rate since 2008 with the country gaining 318,717 new employees in the first four months of the year.

May has traditionally been a fruitful month for job creation, bolstered by the arrival of pleasant weather and the revival of the hospitality industry ahead of the summer, and 2023 has been no exception.

In recent history, Spain has always seen unemployment fall in May, with the largest drop occurring in 2021 when a stunning 129,378 jobseekers were removed from the national register.

Minister José Luis Escrivá, had already hinted on Thursday that May’s Social Security affiliation figures would be “excellent”, and added his optimism for the country’s pension reforms.