FX.co ★ Spain Jobless Rises More Than Expected

Spain’s registered unemployment increased by 43,128 in October 2026 from the previous month, reaching 2.42 million. Despite the rise—and the fact that analysts had forecast a much smaller increase of 18,700—this is still the lowest October reading since 2007.

Joblessness rose in almost all sectors. Services posted the largest increase (+26,853), followed by industry (+1,911) and agriculture (+1,547). Construction was broadly unchanged (+102), while unemployment among first-time jobseekers grew by 12,715.

Youth unemployment also deteriorated: among people under 25, the number of unemployed rose by 15,832, or 8.37% compared with September, bringing the total to 204,973.

The number of unemployed increased across all 17 autonomous communities, with the largest rises recorded in Catalonia (+8,174), the Valencian Community (+6,716) and Castile and León (+4,404).