Spain | Labor market records in November were more positive than expected

Social Security affiliation fell by 11,600 people and unemployment by 24,600. After adjusting for seasonality, we estimate that the number of affiliated workers grew by 25,000 (2,500 more than in Oct) and the number of unemployed fell by 16,000, after stagnating since July. Temporary employment fell by 1.1 pp to 56.7% SWDA.

Key points

• Key points:
• Social Security affiliation surprised on the upside.
• Seasonally adjusted job creation was widespread.
• Total employment broke its downward trend
• Unemployment has fallen after virtually stagnating since July.
• All sectors contributed to the decline in unemployment.

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