Spain | Quarterly Labor Market Observatory 4Q2024

Summary

In this edition of the QLMO, we analyze labor market trends using data available up to 4Q 2024. We assess the evolution of key indicators, examine recent labor market flows, and focus on green skills as well as gender differences in employment and pensions.

Key points

• Key points:
• Job creation picked up in Q4 2024, with growth observed across nationalities and age groups, except among Spanish workers aged 35 to 44. The increase in both self-employment and permanent contracts offset the decline in temporary jobs.
• The 2021 labor reform has aligned Spain’s temporary employment rate with that of neighboring countries, but not its employment-to-unemployment transition dynamics. Registered unemployment fell in 2024, and its turnover rate remained stable, while ‘effective’ unemployment edged up.
• Green skill intensity in employment is moderate in Spain (4%), on par with the EU-27 average. However, workers with higher green skill intensity display distinct skill profiles.
• Gender gaps in labor force participation and employment have translated into disparities in contribution-based career paths. Among workers born from 1960 onward, these gaps have narrowed considerably, largely driven by declining fertility rates.

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