Spain’s Unemployment Falls Below 10% for the First Time in 17 Years

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This episode explores a historic milestone in Spain’s labor market as unemployment drops to 9.93% by the end of 2025. Driven by the creation of more than 600,000 jobs—mainly from the private sector—total employment has surpassed 22 million for the first time. We discuss the strength of growth in services and industry, the remaining regional inequalities, and why youth unemployment, despite improving, continues to lag behind the rest of Europe.