Spain has just reached a milestone that seemed distant only a decade ago: the unemployment rate has fallen below 10% for the first time since the first quarter of 2008, just before the financial crisis erupted and plunged the country into mass unemployment. According to eldiario.es, in the second quarter of 2026 joblessness stood at 9.87%, representing a drop of nearly one percentage point compared to the 10.83% recorded between January and March.

A recovery breaking record after record

Data published this Tuesday by the National Statistics Institute (INE) reflect unprecedented labour dynamics. The number of workers reached 22.77 million people, surpassing the historical high recorded at the end of 2025. In just three months, between April and June, employment grew by 486,000 people, cementing an annual job creation rate exceeding 500,000 jobs.

What is significant is not only that more people are working, but that the active population has also touched new highs. The number of people available for work grew by 272,700 in the quarter and by 452,500 in the last year, reaching a record of 25,274,300 people. This means Spain is not only generating jobs at an accelerated pace, but also attracting more people to the labour market.

Higher quality employment, though temporary contracts persist

A revealing figure is the composition of this labour growth. Of the total new employees, 386,900 obtained permanent contracts compared to 142,300 with temporary contracts. Although temporary employment remains a structural problem in the Spanish labour market, the proportion of stable jobs is increasingly higher.

The Government stresses that "the strength of the labour market improves the situation of households". The data confirms this: households where all adult members are unemployed have decreased by 86,500 in the quarter, while those where all are working have increased by 228,800, reaching 12.2 million homes.

A complex international context that has not halted employment

This employment surge comes in a context marked by significant geopolitical tensions, including escalation of international conflicts. Despite these headwinds, the Spanish economy continues generating jobs at a pace not seen in years. The second quarter is typically favourable for employment due to seasonal hiring and improved weather, but this year's growth has been particularly robust.

It is worth noting that foreign employment has been a fundamental driver of this growth, contributing significantly to surpassing previous employment highs.

Can this pace be sustained?

The question now is whether this positive dynamic can consolidate over the coming quarters. With the unemployment rate at 9.87% and the global economy facing uncertainty, Spain has demonstrated unexpected resilience. But the figures also reveal that nearly 2.5 million people are still unemployed and that employment policies will remain crucial for this cycle not to peter out.