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December 5, 2024
GDP growth in 2024 has been revised upward by 0.2 percentage points, reaching 3.1%, driven by stronger-than-expected performance in the third quarter and a slight acceleration in job creation in the fourth. Growth is projected at 2.3% in 2025 and could settle at 1.7% in 2026.
February 9, 2024
Signs indicate a gradual slowdown/normalization of the labor market, with NIFB survey trends suggesting no acceleration in employment, alongside lower Job openings and quits indicating slower wage growth.
December 21, 2023
The objectives of this study aim to gauge the impact of the reduction in the legal maximum working hours, pinpoint potentially affected workers, estimate the macroeconomic repercussions, and propose economic policy measures to amplify the positive effects of the reform while mitigating the negative ones.
December 1, 2022
The minimum wage policy has been insufficient to attack the structural problems of the labor market. It has eclipsed the need to discuss more structural aspects of the economy that allow for a more robust labor market and a horizon for creating jobs with better remuneration.
December 7, 2021
Wages will attract close attention in the coming months. First, because rising inflation is placing wages under strain. Second, because there is uncertainty as to how much bargaining power employees and employers will have.
February 3, 2020
With changes to labor regulations being proposed, priority should be given to addressing structural challenges that have not been resolved by the reforms that have taken place in recent years. Among these factors that are embedded in the Spanish economy is productivity.
January 27, 2020
Labor productivity in Spain is counter-cyclical, unlike in the majority of developed economies. This phenomenon is mainly due to the poor functioning of the labor market. There is an urgent need to adopt reforms to boost sustained productivity growth
July 3, 2018
In this paper, the productivity of the public sector in Spain is analyzed comparatively. Although the public sector is not the main cause behind the negative behavior of productivity in Spain, there is ample room for improvement to reach the levels of efficiency and effectiveness presented by the rest of the main peers.
April 6, 2018
The General Purpose Technology advancements, Information Communication Technology and digitization, are the common factors behind three major trickle-down structural contributors to stagnant real wage growth – low productivity growth, the decline in labor income share, and the rise in wage growth distribution inequality.
January 29, 2018
The prospects for the Portuguese economy are positive, although the country still has significant imbalances that could slow the pace of recovery if the reforming zeal shown in the past few years is not maintained.
