The Spanish labor market accelerated significantly in June, continuing the positive trend seen in spring. After a slight slowdown in May, June proved to be a month of significant job creation, underscoring the robustness of the Spanish economy. With an increase of 76,720 new social security contributors, Spain recorded the highest job growth since 2023. This development brings the total number of people affiliated with social security to 21,861,095 – a new record that brings the psychological barrier of 22 million within reach. However, experts expect this goal will likely not be reached this year, as the upward cycle of employment usually peaks in July.
Unemployment at a 17-Year Low
In parallel with employment growth, a significant decrease in unemployment was also observed. SEPE offices reported a decline of 48,920 unemployed individuals, reducing the total number of registered persons to 2,405,963. This is the lowest level in 17 years and a clear sign of the Spanish labor market’s recovery.
Trade and Hospitality as Job Drivers
The main drivers of this positive development in June were trade, with 31,338 new social security affiliates, and hospitality, which recorded 27,696 new members. Both sectors benefit significantly from the tourism season and increasing consumer spending. Administrative activities and support services (+24,836) as well as health and social services (+22,512) also played a remarkable role in job creation.
On the other side of the spectrum, there were seasonal declines. The education sector saw a decrease of 56,593 people due to school holidays. Employment in the special regime for agriculture also significantly decreased by 28,752 people, which is attributable to harvest cycles and seasonal conditions. Overall, however, the June figures signal a strong and resilient labor market in Spain, which continues to develop positively despite seasonal fluctuations in individual sectors.
