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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SpainSpain Unemployment Rate climbed to 10.83% in January 2026
FMPMonthlyReleased April 2026
Spain Unemployment Rate climbed to 10.83% in January 2026, released April 2026, up 0.9% from December's 9.93% reading. The print came in hotter than the 9.8% consensus, a hotter print than forecasters anticipated. Year-over-year, the indicator is down 0.53%. Unemployment Rate is now the highest in 9 months.
Latest Release
10.83
Actual
9.8
Consensus
9.93
Previous
Median Absolute Error
±0.35 percentage points
across last 12 releases
Last Call
Jan 2026
Predicted: 10
Actual: 9.93
Error: +0.07
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.35 | INDEX | Bullish EU | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Unemployment Rate (Spain) was reported at 10.83% in April 2026. This beat the market consensus of 9.8% by 1.03%. The reading rose from the previous value of 9.93%. Trailing 12-month context per ETL data through January 2026. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 10.22%, down from the prior three at 11.06%. In January readings over the past 3 years, Unemployment Rate has averaged 10.77%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with DAX, positively correlated (Bullish EU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.35%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 23) and Gross Domestic Product QoQ (Jun 25).
Auto-generated from current model state · Refreshes on each release · Last update January 2026.
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Unemployment Rate - ES
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About Unemployment Rate — Spain
DEFINITION
The Unemployment Rate is a key economic indicator that measures the percentage of the total labor force that is currently without a job and actively seeking employment. It is used to assess the health of the job market and the overall state of the economy. A high unemployment rate can indicate a weak economy, while a low unemployment rate can suggest a strong and growing economy. This data is closely monitored by policymakers, businesses, and investors to make informed decisions and projections.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 10.83 %, consensus 9.8 %. Prior reading (Oct 2025): 9.93 %. Before that (Jul 2025): 10.45 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.