• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Spain
Europe

Spain wants to cut its workweek to 37.5 hours with unemployment reaching a 15-year low of 11.6%

By
Rodrigo Orihuela
Rodrigo Orihuela
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Rodrigo Orihuela
Rodrigo Orihuela
and
Bloomberg
Bloomberg
Down Arrow Button Icon
October 24, 2023, 4:16 PM ET
Pedro Sanchez, Yolanda Diaz
Spain's acting Prime Minister and Secretary General of the Socialist Party Pedro Sanchez (L) and the acting labour minister and founder of the alliance of far-left parties Sumar, Yolanda Diaz, smile after signing an agreement to form a coalition government in Madrid on October 24, 2023. The agreement to form a coalition government sealed today by Spain's Socialist party and hard-left Sumar is a key step to reinstating acting Prime Minister Pedro Sanchez for another term. Spain is in political limbo since an inconclusive July general election which was won by the conservative Popular Party (PP) but without enough support to form a government. (Photo by OSCAR DEL POZO / AFP) (Photo byOSCAR DEL POZO/AFP via Getty Images

Spain’s Socialist Party and the far-left group Sumar agreed to cut weekly working hours as part of talks to try to form a coalition government. 

Recommended Video

The workweek would drop to 37.5 hours from 40 hours at present, according to the plan unveiled by acting Prime Minister Pedro Sanchez and Labor Minister Yolanda Diaz in Madrid on Tuesday as they presented the coalition agreement between the premier’s Socialists and Diaz’s Sumar party.

The coalition is still far from forming a government as Sanchez still needs the support of several other parties, most notably two secessionist Catalan groups. He has until Nov. 27 to get backing in parliament for a new term or else new elections will be called. 

It’s unlikely that a potential new Sanchez government will be able to rubber-stamp a reduction in the workweek, as passing legislation will require backing from several parties, including a few with pro-business ties such as the Basque Nationalist Party.

Diaz, a card-carrying Communist and labor lawyer with strong union ties, has sought to be an advocate for workers’ rights since joining the government in early 2020, when the Socialists formed a coalition to govern with a predecessor party of Sumar. 

The plan to shorten the workweek comes as Spain’s unemployment rate stands at the lowest in 15 years, having dropped to 11.6% in the second quarter. The minimum wage has risen by about 47% since Sanchez first formed a government in 2018.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Rodrigo Orihuela
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Marvin Ellison
SuccessCareers
Lowe’s is investing $250 million to train plumbers, carpenters, and electricians as its CEO says skilled trades are ‘critical to the future’
By Preston ForeApril 7, 2026
10 minutes ago
Sam Altman, CEO of OpenAI, in Washington, DC, on March 11, 2026. (Photo: Daniel Heuer/Bloomberg/Getty Images)
NewslettersFortune Tech
OpenAI imagines a society with, you guessed it, super AI
By Andrew NuscaApril 7, 2026
42 minutes ago
Peter McCrory, head of economics, Anthropic.
Big TechMarkets
Anthropic economics chief talks about the jobs that could be killed by AI
By Jim EdwardsApril 7, 2026
54 minutes ago
Today’s top high-yield savings rates: Up to 5.00% on April 7, 2026
Personal FinanceSavings accounts
Today’s top high-yield savings rates: Up to 5.00% on April 7, 2026
By Glen Luke FlanaganApril 7, 2026
1 hour ago
Top CD rates today, April 7, 2026: Lock in up to up to 4.20%
Personal FinanceBanks
Top CD rates today, April 7, 2026: Lock in up to up to 4.20%
By Glen Luke FlanaganApril 7, 2026
1 hour ago
CEOs are lining up behind the $1,000 Trump Accounts for babies
NewslettersCEO Daily
CEOs are lining up behind the $1,000 Trump Accounts for babies
By Diane BradyApril 7, 2026
1 hour ago

Most Popular

The U.S. military set up an improvised airfield deep inside Iran to rescue the F-15 airman. Marines just practiced building one in the desert
Politics
The U.S. military set up an improvised airfield deep inside Iran to rescue the F-15 airman. Marines just practiced building one in the desert
By Fortune EditorsApril 5, 2026
2 days ago
During the rescue of the F-15 airman in Iran, the U.S. military blew up two of its own transport planes that had to be left behind
Politics
During the rescue of the F-15 airman in Iran, the U.S. military blew up two of its own transport planes that had to be left behind
By Fortune EditorsApril 5, 2026
2 days ago
Millions of Americans paid billions in tariffs later ruled illegal — and they won't see a dime back
Commentary
Millions of Americans paid billions in tariffs later ruled illegal — and they won't see a dime back
By Fortune EditorsApril 6, 2026
22 hours ago
Sam Altman says AI superintelligence is so big that we need a ‘New Deal.’ Critics say OpenAI’s policy ideas are a cover for ‘regulatory nihilism’
AI
Sam Altman says AI superintelligence is so big that we need a ‘New Deal.’ Critics say OpenAI’s policy ideas are a cover for ‘regulatory nihilism’
By Fortune EditorsApril 6, 2026
14 hours ago
A CIA deception campaign in Iran helped the spy agency uncover the location of the downed F-15 airman, who was hiding in a mountain crevice
Politics
A CIA deception campaign in Iran helped the spy agency uncover the location of the downed F-15 airman, who was hiding in a mountain crevice
By Fortune EditorsApril 5, 2026
2 days ago
Current price of oil as of April 6, 2026
Personal Finance
Current price of oil as of April 6, 2026
By Fortune EditorsApril 6, 2026
22 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.