Spain's Unemployment Rate reflects a percentage of unemployed residents in relation to the total civilian labor force. The index covers unemployed citizens of appropriate age, having conditions and possibilities for employment, i.e. the working-age population. The Unemployment Rate is a very important indicator showing the number of people without any work. Related data is collected form a survey of working-age population. Households are surveyed quarterly and are asked about their current jobs. The Unemployment Rate index is calculated as the number of unemployed (aged 16 and over, not working and looking for a job) divided by the number of active population (economically active population aged 16 and over, employed and not employed) and is expressed as a percentage. In other words, the Unemployment Rate is not expressed in the ratio between the total number of unemployed people and the entire population, but only with respect to the country's total civilian labor force.
This survey classifies a population of 16 years and older into 4 groups:
The population census is considered not to be a suitable source for measuring this index, as opposed to household surveys. This survey provides a more advanced method, since it takes into account part-time employment, informal or seasonal work and occasional part-time work.
The unemployment rate is one of the most significant indicators of Spain's economic development. A decrease in Unemployment rate is usually seen as positive for the euro quotes.
The chart of the entire available history of the "Spain Unemployment Rate" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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