LFS 3Q24 | The labor market showed a favorable evolution, albeit at a moderate pace

Once seasonality is discounted, both employment (0.4% q/q) and hours worked (0.1% q/q) increased at a similar pace to Social Security affiliation (0.3% q/q). Additionally, the unemployment rate declined (to 11.3%), and the temporary employment rate remained stable (15.9%).

Key points

• Key points:
• Employment and hours worked continued to grow, albeit at a contained pace. All sectors created jobs.
• Temporary employment rate remained practically stable.
• Job creation once again exerted downward pressure on the unemployment rate.
• Asturias and Murcia led job creation and the reduction in the unemployment rate.

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