The number of people registered as unemployed in Spain declined by 84.1 thousand, or 2.66 percent, to 3.079 million in May 2019, the lowest level for a May month in the last ten years. It compares with market expectations of a 67 thousand fall. By sector, unemployment dropped in all the sectors: agriculture and fishery (-7.9 thousand), industry (-8.1 thousand), construction (-9 thousand) and services (-54.8 thousand). By regions, main declines were recorded in Andalucía (-18 thousand), Catalonia (-10.5 thousand) and Comunidad Valenciana (-8.7 thousand). Unemployment went down by 11.3 thousand for those under 25 years old and by 72.8 thousand for those aged more than 25. Unemployment Change in Spain averaged 4.18 Thousand from 1960 until 2019, reaching an all time high of 461.01 Thousand in January of 2001 and a record low of -129.30 Thousand in April of 2017.
Unemployment Change in Spain is expected to be -88.60 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Change in Spain to stand at -45.50 in 12 months time. In the long-term, the Spain Unemployment Change is projected to trend around -36.00 Thousand in 2020, according to our econometric models.