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October 25, 2024
Once seasonality is discounted, both employment (0.4% q/q) and hours worked (0.1% q/q) increased at a similar pace to Social Security affiliation (0.3% q/q). Additionally, the unemployment rate declined (to 11.3%), and the temporary employment rate remained stable (15.9%).
July 26, 2024
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).
May 27, 2024
In this edition of the QLMO, we analyze the labor market situation with data available up to the first quarter of 2024. We review the trends of the main indicators, examine the differences between the Labor Force Survey and administrative records, and highlight Spain's productivity deficit.
April 26, 2024
Despite the quarter's negative seasonality, both the number of jobs (up 0.5% quarterly CVEC) and hours worked (up 0.3%) increased. Furthermore, the rate of temporary employment and the unemployment rate both fell (to 16.1% and 11.7% CVEC, respectively).
January 26, 2024
Excluding seasonal factors, occupation outpaced affiliation in 4Q23 (0.6% q/q vs. 0.4% q/q), and worked hours surged to 0.9% q/q. The temporary employment and unemployment rates dropped (to 16.5% and 11.9%, respectively). In 2023, 615,000 jobs emerged (3.0%), lowering the unemployment rate to 12.9%.
October 26, 2023
Employment grew more than expected (209,200 people). After adjusting for seasonality, employment data was positive, both in terms of the number of workers (0.8% QoQ SWDA) and in terms of hours worked. In addition, temporary employment fell (16.8% SWDA) and the unemployment rate increased (12.2% SWDA) due to the labor force.
July 27, 2023
Employment increased more than expected between April and June (603,900). Excluding seasonality, job creation picked up (1.4% QoQ SWDA), but the decline in average working hours limited the rise in hours worked (0.5%). Moreover, temporary employment (17.1% QoQ SWDA) and the unemployment rate (11.7%) fell.
October 28, 2021
Job creation rebounded in 3Q21 (1.3% QoQ SWDA; 4.5% YoY) and the number of workers on ERTE or partial unemployment fell to 95,200. The labour force increased strongly after the end of the restrictions, which limited the improvement in the unemployment rate (14.6%)
July 29, 2021
Job creation picked up (0.8% QoQ SWDA; 5.7% YoY) and the number of employees on ERTE or partial unemployment who did not work halved (207,100).Total hours worked increased significantly (3.4% QoQ SWDA; 34.4% YoY) and the unemployment rate fell to 15.3%.
April 29, 2021
Employment increased 0.5% QoQ CVEC (-2.4% YoY), more than expected. However, the worked hours decreased (-0.9% QoQ CVEC; -3.5% YoY) and the employees in ERTE or partial unemployment who did not work exceeded 400,000. The decline in labour force participation reduced the unemployment rate to 16%.
January 28, 2021
Employment grew by 167,400 (-3.1% YoY), but 815,600 people worked fewer hours than usual due to ERTE or partial unemployment. The moderate increase in the labour force helped the unemployment rate to fall to 16.1%. In 2020, 576,900 jobs were destroyed (-2.9%) and the unemployment rate rose to 15.5%.
October 27, 2020
Job creation was 569,700 (-3.5% YoY). Employees who worked fewer hours than usual due to ERTE or partial unemployment fell to 887,100. The easing of mobility restrictions allowed job searches to take place, which led to a rebound in the active population and, therefore, an increase in the unemployment rate to 16.3%.
