Employment growth forecast in the Community of Madrid 2018-2025

Starting in 2021, the Community of Madrid's gross domestic product has returned to positive territory after a decline of 10.4 percent in 2020. The forecast for 2023 points to a growth of three percent, while a growth of 2.9 percent is expected for 2024.

GDP per capita of Spain 

The GDP per capita of Spain faced a decline during the COVID-19 pandemic, when the value dropped to 29,799 U.S. dollars in 2022. Nevertheless, since then, the GDP per capita of the Iberian country has been growing and is estimated to be at 34,045 dollars in 2024. In regional terms, the Community of Madrid was the autonomous community with the highest GDP per capita, at 38,435 euros in 2022.

The employment scene in Madrid

Employment in the autonomous Community of Madrid has been growing every year since 2021. The Spanish region favors the service sector, having over 87 percent of its employed population inserted in this sector. The average monthly income has also increased in recent years and, in 2023, reached 2,271 euros.