Since June 2018, the number of employed has increased by 3.44 million and the interprofessional minimum wage has grown by 65.9%. Unemployment and temporary contracts have decreased, but youth unemployment remains high.
According to Infobae, since Pedro Sánchez took office in June 2018, the Spanish economy has regained the ground lost during the pandemic, although the legislative balance has both positive and negative data. The labour market is the area with the best evolution.
With data from the Active Population Survey (EPA) of the National Institute of Statistics (INE), the number of employed rose from about 19.34 million in the second quarter of 2018 to nearly 22.78 million in the same period of 2026. The unemployment rate fell from 15.28% to 9.87%.
Temporary contracts have also decreased. In the second quarter of 2018, around 27% of employees had a temporary contract, compared to approximately 15% in 2026. According to the State Public Employment Service (SEPE), over seven million permanent contracts were registered in 2022 and another 6.62 million in 2023, although the same worker may sign several contracts, so these figures do not equate to the number of people with stable employment.
In contrast, youth unemployment remains above the average. The unemployment rate for those under 25 fell from 34.6% in early 2018 to 23.77% in the same period of 2026, a drop of almost 11 points that still leaves one in four active young people without work.
Regarding income, the interprofessional minimum wage (SMI) has increased from 730.90 euros gross monthly in 14 payments in 2018 to 1,221 euros in 2026, a nominal increase of 65.9%. The average salary has reached about 2,400 euros monthly in the first quarter of 2026, compared to 1,923 euros in 2018, a figure that must be compared with the price increase to measure purchasing power.
The average pensions have risen from 1,083.67 euros in June 2018 to 1,572.80 euros in June 2026, which means 489.13 euros more per month, a nominal increase of 45.1%. In contrast, the cost of housing remains one of the main problems for families, according to the analysis of the information.
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