The mid-1970s marked the start of a dark period for the Spanish economy, with severe job destruction; since the option of emigration was ruled out due to the oil crisis, this led to the appearance of an acute problem of unemployment appearing in Spain. This study constitutes a contribution to the research Pensiones y prestaciones por desempleo (Pensions and Unemployment Benefits) (Fundación BBV, page 66). It analyzes the institutional characteristics, expenditure, finance and incentives offered by unemployment protection in Spain, as well as its recent developments and current situation in the context of the European Union countries.