Spain | LFS 2Q24: The labor market continues to improve at a steady pace

Excluding positive seasonality, both employment (0.4% QoQ) and hours worked (0.5% QoQ) increased, but at a slower pace than Social Security affiliation (0.8% QoQ). Additionally, both the temporary employment rate and the unemployment rate dropped (to 15.9% and 11.6%, respectively).

Key points

• Key points:
• Employment and hours worked continued to grow, but less than Social Security affiliation. All sectors created jobs
• The public sector contributed to the reduction in temporary employment
• Demographics limited the reduction in the unemployment rate
• The Valencian Community and Andalusia drove job creation in the second quarter

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