September 23, 2022
Alfonso Arellano is Senior Economist in the Spain & Portugal Unit at BBVA Research. He is also part-time associate professor at Complutense University of Madrid.Previous to this position, Alfonso Arellano worked as post-doctoral researcher at the Foundation for Applied Economics (FEDEA) and visiting professor at the University of Alicante.He obtained the B.A. in Economics at Complutense University, the Master in Economics and Management at University Pompeu Fabra and completed the Ph. D. in Economics at University Carlos III.His research interests include microeconometrics, applied econometrics and labor economics. His current research also focuses on digital economy, financial literacy and financial health, among others.
The labour market reform changes the sectoral distribution of contracts by duration: those sectors with a greater weight in shorter duration contracts, such as Accommodation and food service activities and Agriculture, forestry and fishing, lose importance and the rest of the activities gain it.
Social Security enrollment declined (190.000), unemployment increased (40.400) and temporary employment practically stagnated. Seasonally adjusted, this pattern continued: employment fell again (-20.000), while unemployment rose for the third time in a row (15.000) and temporary employment remained stable.
There is consensus on an economic slowdown in Europe in the coming months, and Spain will be no exception. This is compounded by the evolution of inflation and the rise in the cost of credit. The question arises as to how households are coping with this situation according to their concerns and saving and spending habits.