FX.co ★ Spanish Job Market Momentum Cools as Unemployment Falls Less Sharply in May

Spain’s labor market continued to improve in May 2026, but at a slower pace than in the previous month, according to the latest unemployment change data released on 2 June 2026.

Unemployment fell by 36,300 in May, a solid decline but notably weaker than April 2026, when jobless numbers dropped by 62,700. The moderation suggests that while hiring remains active, particularly ahead of the peak summer season, the momentum seen earlier in the spring is easing.

The softer improvement in May could prompt closer monitoring from policymakers and market participants, as it may signal a more gradual phase of job creation following a strong start to the second quarter.