• 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

North Americagun violence
At least 2 killed and 8 injured hurt in shooting at Brown University with suspect still at large
By Kimberlee Kruesi, Alanna Durkin Richer, Jennifer McDermott and The Associated PressDecember 13, 2025
3 hours ago
North AmericaMexico
U.S., Mexico strike deal to settle Rio Grande water dispute
By Fabiola Zerpa and BloombergDecember 13, 2025
4 hours ago
InvestingSports
Big 12 in advanced talks for deal with RedBird-backed fund
By Giles Turner and BloombergDecember 13, 2025
4 hours ago
AIchief executive officer (CEO)
Microsoft AI boss Suleyman opens up about his peers and calls Elon Musk a ‘bulldozer’ with ‘superhuman capabilities to bend reality to his will’
By Jason MaDecember 13, 2025
4 hours ago
Danish military forces participate in an exercise with hundreds of troops from several European NATO members in the Arctic Ocean in Nuuk, Greenland, Monday, Sept. 15, 2025.
PoliticsDonald Trump
Danish intelligence report warns of U.S. economic leverage and military threat under Trump
By The Associated PressDecember 13, 2025
5 hours ago
Ukrainian President Volodymyr Zelensky gives a joint press conference in Kyiv, Ukraine in 2023 as European leaders visit the country 18 months after the start of Russia's invasion.
EuropeUkraine invasion
EU indefinitely freezes Russian assets to prevent Hungary and Slovakia from vetoing billions of euros being sent to support Ukraine
By Lorne Cook and The Associated PressDecember 13, 2025
5 hours ago

Most Popular

placeholder alt text
Success
Apple cofounder Ronald Wayne sold his 10% stake for $800 in 1976—today it’d be worth up to $400 billion
By Preston ForeDecember 12, 2025
2 days ago
placeholder alt text
Economy
Tariffs are taxes and they were used to finance the federal government until the 1913 income tax. A top economist breaks it down
By Kent JonesDecember 12, 2025
2 days ago
placeholder alt text
Success
40% of Stanford undergrads receive disability accommodations—but it’s become a college-wide phenomenon as Gen Z try to succeed in the current climate
By Preston ForeDecember 12, 2025
1 day ago
placeholder alt text
Economy
The Fed just ‘Trump-proofed’ itself with a unanimous move to preempt a potential leadership shake-up
By Jason MaDecember 12, 2025
1 day ago
placeholder alt text
Economy
For the first time since Trump’s tariff rollout, import tax revenue has fallen, threatening his lofty plans to slash the $38 trillion national debt
By Sasha RogelbergDecember 12, 2025
1 day ago
placeholder alt text
Success
Apple CEO Tim Cook out-earns the average American’s salary in just 7 hours—to put that into context, he could buy a new $439,000 home in just 2 days
By Emma BurleighDecember 12, 2025
1 day ago
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
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • 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
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map

© 2025 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.