Registered Unemployment (SEPE) in Spain

Measures the number of people registered as non-employed jobseekers at Spain's Public Employment Service (SEPE) offices at the end of each month -registered unemployment-, and its change versus the prior month. It is an administrative headcount, distinct from the quarterly EPA labour force survey unemployment rate.

Administrative count of jobseekers registered as non-employed (excludes employed jobseekers, students and other limited-availability groups), under the SISPE methodology in place since May 2005. Published as total level plus month-on-month and year-on-year change, in absolute (persons) and relative (%) terms. Raw (non seasonally adjusted) data.

A fall in registered unemployment is read as labour market improvement and tends to accompany job creation and consumption; a rise signals weakness. Given its monthly frequency and very short publication lag, it is one of the most closely watched activity indicators in Spain, alongside Social Security affiliation (released the same day).

It is an administrative record, not a survey: it depends on who registers (or not) at employment offices -e.g. it excludes people who do not register because they are not entitled to benefits- so it is not directly comparable to the ILO-harmonised EPA unemployment rate. The official series is also NOT seasonally adjusted, so it carries strong month-to-month seasonality (tourism, farm campaigns, Christmas hiring...).