Spain Unemployment Rate

Spain's Unemployment Rate reflects a percentage of unemployed residents in relation to the total civilian labor force. The index covers unemployed citizens of appropriate age, having conditions and possibilities for employment, i.e. the working-age population. The Unemployment Rate is a very important indicator showing the number of people without any work. Related data is collected form a survey of working-age population. Households are surveyed quarterly and are asked about their current jobs. The Unemployment Rate index is calculated as the number of unemployed (aged 16 and over, not working and looking for a job) divided by the number of active population (economically active population aged 16 and over, employed and not employed) and is expressed as a percentage. In other words, the Unemployment Rate is not expressed in the ratio between the total number of unemployed people and the entire population, but only with respect to the country's total civilian labor force.

This survey classifies a population of 16 years and older into 4 groups:

• Employed: people having a paid work, as well as those on annual or sick leaves or strikes.
• Unemployed: people who are not engaged in any labor activity, but who are actively seeking employment or waiting to get back to work. A person is considered unemployed if: 1) he or she is not working and has been actively looking for a job during the last four weeks; 2) he or she has been removed from work and is awaiting recovery, or 3) he or she is waiting to start working next month. In addition, the person must confirm that he or she is really looking for a job (such as visited local businesses, responded to job ads, etc.).
• Inactive population: category of adult population, which includes people involved in housekeeping, as well as pupils and students, retirees, people not able to work and those not looking for work.
• Active population: employed and unemployed citizens.

The population census is considered not to be a suitable source for measuring this index, as opposed to household surveys. This survey provides a more advanced method, since it takes into account part-time employment, informal or seasonal work and occasional part-time work.

The unemployment rate is one of the most significant indicators of Spain's economic development. A decrease in Unemployment rate is usually seen as positive for the euro quotes.