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December 23, 2024
The COVID-19 pandemic triggered an unprecedented disruption in economic activity in Spain. Although the recovery has returned to previous patterns in many respects, a detailed analysis of Spain's GDP and components reveals a more complex picture.
December 3, 2024
Social Security affiliation dropped by 30,100, while unemployment decreased by 16,000. Adjusted for seasonality, contributors increased by 26,000, and the unemployed fell by 4,600. Preliminary data does not indicate a significant rise in workers affected by furlough schemes (ERTE) following the DANA.
November 5, 2024
Social Security affiliation grew by 134,300 people and unemployment increased by 26,800. Seasonally adjusted, the number of employees rose by 55,000, while the number of unemployed fell by 13,000. Additionally, the percentage of affiliates with temporary contracts decreased.
October 16, 2024
Formal employment grew by 1.6% in September. Despite the increase, the growth was lower than expected, reflecting a more significant slowdown and worsening short- and medium-term employment expectations, influenced by the country's anticipated lower economic growth and uncertainty.
October 7, 2024
Immigration has been a key factor supporting the growth of the Spanish economy in the wake of the pandemic. The labor market, economic and social integration, and training of immigrants all require priority attention from policymakers.
October 2, 2024
Social Security affiliation increased by 8,800 while unemployment by 3,200. After adjusting for seasonality, the number of contributors rose by 24,000, and the unemployed dropped by 14,000. In Q3 2024, affiliation grew by 0.3% QoQ SWDA (0.8% in Q2 2024), and unemployment declined by 0.8% QoQ SWDA (-2.1% in Q2 2024).
August 19, 2024
Since the beginning of the war in Ukraine, Spain has grown more than the EU, but the data offers an alternate view when, instead of comparing the aggregate performance of activity and employment, we focus on per capita growth.
August 2, 2024
Social Security affiliation fell by 9,800 people, and unemployment decreased by 10,800, slightly worse than expected. Adjusted for seasonality, the number of contributors increased by 3,000, 22,000 less than in June, and the unemployed dropped by 4,000. The percentage of affiliates with temporary contracts stabilized.
July 29, 2024
Since 2013, labor productivity in the construction sector, measured as GVA per hour worked in real terms, has fallen by more than 20%. In comparison, the growth in the same indicator for all sectors is 5%.
July 17, 2024
Despite the slowdown, permanent formal employment has shown constant gains. In June, formal employment had a year-on-year growth of 2.0%, 0.1 percentage points below our forecast, confirming the expected deceleration trend.
