Spain | December confirmed a positive labor market outlook for 2024

Summary

Social Security enrollment increased by 35,500, and unemployment fell by 25,300. After adjusting for seasonality, the number of contributors rose by 37,700, while the number of unemployed dropped by 10,900. 2024 ended with 750,400 more affiliates and 602,400 fewer unemployed.

Key points

• Key points:
• Social Security enrollment regained momentum. Job creation (SWDA) was widespread across sectors.
• Permanent contracts maintained their growth pace, while temporary contracts continued to decline.
• The impact of the DANA on employment in the province of Valencia appears to have largely reversed.
• The decline in unemployment accelerated, with services and industry leading the reduction.
• Increased dynamism in the labor market in the fourth quarter.

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