Spain | December confirmed the lower dynamism of the labor market in the second semester

The increase in Social Security affiliation and decline in unemployment moderated in December. Excluding seasonality, the registered workers increased by 11,000, unemployment fell by 23,300 and temporary employment rose (53.7%). Besides, job creation accelerated to 0.3% q/q SWDA in 4Q22 and unemployment fell again (-2.6%).

Key points

• Key points:
• Social Security affiliation moderated its growth.
• Temporality employment rebounded.
• Fall in registered unemployment and increase in employed job seekers.
• 4Q22: from more to less.

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