Spain | EPA1Q22: Labour market remained positive despite headwinds

Summary

Negative seasonality caused a decline in employment (-100,200) and an increase in the unemployment rate (13.6%). However, the adjusted figures (SWDA) are positive: employment grew by 1.1% qoq, hours worked by 0.8%, the unemployment rate fell to 13.0% and the seasonality rate hardly changed (25.1%).

Key points

• Key points:
• Employment performed favourably in 1Q22 despite the economic climate.
• Unemployment rate rebounded due to negative seasonality.
• The Balearic Islands and Valencia led job creation in 1Q22.

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