• 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
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
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
  • Lists Calendar
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Lists Calendar
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

© 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.


Latest in

Colin Zima smiles while wearing a pink shirt
NewslettersTerm Sheet
Exclusive: Omni raises $120 million to fix one of AI’s biggest enterprise data problems
By Lily Mae LazarusApril 23, 2026
20 minutes ago
Uber riders complain they were charged more for paying with Amex cards—one viral video shows a $13 difference
Personal FinanceUber Technologies
Uber riders complain they were charged more for paying with Amex cards—one viral video shows a $13 difference
By Catherina GioinoApril 23, 2026
28 minutes ago
Google's new TPU 8t and TPU 8i custom AI chips. (Photo courtesy Google)
NewslettersFortune Tech
Google rolls out its latest custom AI chips
By Andrew NuscaApril 23, 2026
43 minutes ago
Tech leaders, Donald Trump, and Melania Trump sit at a table.
Big TechLobbying
Big Tech is spending $226,000 a day on lobbying Congress, advocacy group finds
By Jacqueline MunisApril 23, 2026
1 hour ago
vishal garg
Real EstateHousing
The starter home is dying. Better.com’s CEO says AI is the only thing that can save it
By Jake AngeloApril 23, 2026
2 hours ago
Current ARM mortgage rates report for April 23, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for April 23, 2026
By Glen Luke FlanaganApril 23, 2026
2 hours ago

Most Popular

‘Something sinister’: What we know about the FBI probe into dead and missing scientists linked to space and military industries
Economy
‘Something sinister’: What we know about the FBI probe into dead and missing scientists linked to space and military industries
By Jim EdwardsApril 22, 2026
23 hours ago
The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
Real Estate
The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
By Sydney LakeApril 21, 2026
2 days ago
'Something sinister could be happening': FBI looks into dead or missing nuclear and space defense scientists tied to NASA, Blue Origin, and SpaceX
Politics
'Something sinister could be happening': FBI looks into dead or missing nuclear and space defense scientists tied to NASA, Blue Origin, and SpaceX
By Catherina GioinoApril 21, 2026
2 days ago
John Ternus, the man stepping into Tim Cook and Steve Jobs' shoes, is a 25-year Apple veteran with zero LinkedIn posts
C-Suite
John Ternus, the man stepping into Tim Cook and Steve Jobs' shoes, is a 25-year Apple veteran with zero LinkedIn posts
By Kelvin Chan and The Associated PressApril 21, 2026
2 days ago
Palantir published a mini manifesto calling some cultures ‘harmful’ and ‘middling’ and said Silicon Valley has ‘a moral debt’ to the U.S.
AI
Palantir published a mini manifesto calling some cultures ‘harmful’ and ‘middling’ and said Silicon Valley has ‘a moral debt’ to the U.S.
By Marco Quiroz-GutierrezApril 22, 2026
1 day ago
$166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage
Law
$166 billion in tariff refunds just became available, but small businesses may already be at a disadvantage
By Sasha RogelbergApril 20, 2026
2 days ago