After almost four decades being the European country with one of the worst employment data on the continent, Spain has just witnessed a historic change: Finland has surpassed us as the EU country with the highest unemployment rate in November 2025.
According to Eurostat dataFinland recorded an unemployment rate of 10.6%, compared to 10.4% in Spain. The change may seem minuscule (just two tenths), but it is an indicator of something bigger: for the first time since 2013, Spain has stopped occupying first place in this unenviable category.
A change of trend. This shift in unemployment figures reflects an interesting paradox. While Spain has improved its labor market figures in recent years, with a sustained drop in unemployment that was only interrupted during the COVID-19 pandemic, Finland has experienced an economic deterioration that has skyrocketed its unemployment.
In any case, and despite this change in trend, the figures are not good at all. Both countries remain well above the European Union average, which in November stands at 6.0%, demonstrating that they have a serious structural problem that goes beyond the specific ups and downs.
Finland: how a prosperous country has reached the worst unemployment in 15 years. The most striking thing about the Finnish data is the surprising speed of the deterioration of its labor market. The government of the Nordic country implemented reforms a few years ago to reduce public debt, an objective that prioritized job creation. As collected SwissinfoElina Pylkkänen, Undersecretary of State at the Ministry of Employment of Finland, speaking to national television YLEstated that “Increased productivity has been sought by cutting costs, rather than expanding operations and investing.”
In November 2025, more than 250,000 people found themselves without work in Finland, a figure that represents the highest unemployment in the country since 2009. A fact that has been aggravated by the approval of a regulation more lax for dismissal.
Unemployment improves as measured. Although Finland leads the unemployment rate with the seasonally adjusted data (10.6%), there is an important nuance since Eurostat uses trend data for Finland, not seasonally adjusted, so the situation reflected in these data still needs to be consolidated.
If you use the seasonally adjusted unemployment data facilitated by the EU, Spain remains at 10.4% while Finland is at 10.1%. However, the unemployment trend for the third quarter of 2025 It already showed the stagnation of the Finnish labor market and the improvement of employment in Spain.
Spain: decades of an unemployment problem that does not end. Spain has not arrived at this situation suddenly either. According to the data from the National Statistics Institute (INE), the unemployment rate in the third quarter of 2025 was 10.45%, which demonstrates the persistence of the problem. During the last 39 consecutive monthsSpain has been the country with the highest unemployment rate in the EU, an undesirable leadership that has remained practically without interruption since 2013.
He origin of this problem chronic work it’s complexcombining a high rate of temporary contracts with a more limited level of investment in training. This generates an extreme sensitivity of employment to economic cycles: when the economy slows down, employment is the variable that adjusts most quickly, but falls at the same speed when it slows down.
The 2008 crisis exemplified this vulnerability, bringing the Unemployment at historic highs. Although Spain has consistently created jobs since then, unemployment rates remain almost double the European average. That Spain loses a title that it has held for almost four decades does not represent a solution to the problem, but rather the confirmation that another country faces a situation even more complicated.
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