Spain | Fourth quarter improvement leads to 451,600 jobs by 2019

The labour market regained some of the momentum lost during the year. Despite the negative seasonality, EPA employment increased by 92,600 people (2.1% y/y) and the unemployment rate fell 0.1pp to 13.8%. On average, 451,600 jobs were created during the year (2.3% y/y) and the unemployment rate fell by 1.2pp to 14.1%

Key points

• Key points:
• Job creation gained traction in 4Q19 and improved the evolution of the registrations anticipated by Social Security
• Services and construction sectors surprised upwards, and the industry's performance was worse than expected
• Private sector, the main responsible for the advance of the occupation
• Decrease in the temporality rate and the unemployment rate
• Central and Southern Autonomous Communities lead job creation in 2019

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