Spanish Male Employment Hits Record High, Surpassing 2007 Peak

The number of men employed in Spain has reached a new record, surpassing the peak levels recorded during the country’s housing boom nearly two decades ago. Data from the latest Active Population Survey (EPA) confirms that male employment has finally exceeded the previous high-water mark set before the economic crisis.

Third Quarter 2007

The previous record for male employment was established during the third quarter of 2007. At that time, the Spanish labor market counted 12.18 million working men. This period coincided with a massive expansion in the construction sector, which served as the primary driver for male job creation in the country.

Third Quarter 2024

New figures from the Active Population Survey for the third quarter indicate that 12.19 million men are currently employed in Spain. This figure marks the first time since the 2007 housing bubble that employment levels for men have surpassed the historic peak. This milestone represents one of the final remaining labor market indicators to recover during the current economic cycle.

Current Employment Landscape

Spain’s labor market has now officially reclaimed a significant benchmark that had remained elusive for 19 years. The shift reflects a broader recovery in the workforce, moving beyond the reliance on the construction sector that characterized the pre-crisis economy.

Why it matters: This recovery signals a stabilization of the Spanish labor market, suggesting that the economy has successfully moved past the structural impacts of the 2008 financial crisis. For international observers and emerging economies, this trend highlights the long-term nature of labor market corrections following major property sector collapses.