Spain's Unemployment Rate measures the % of economically active population (16+) without work but seeking it, via quarterly EPA survey by INE, published ~75 days post-quarter. High rates signal weak economy, pressuring ECB policy; lower beats forecasts strengthen EUR via hawkish ECB stance. Traders watch for surprises: lower-than-ex. (11.4% in 2024) boosts EUR, higher weakens it. Spain's chronic high unemployment (post-2008 legacy) amplifies EUR impact.