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.
Employment hardly changed between October and December seasonally adjusted (0.0% quarter-on-quarter), but hours worked increased (0.5%). Unemployment and temporary employment rates fell (13.0% and 17.9% QoQ, respectively). In 2022, 617,000 jobs were created (3.1%) and the unemployment rate fell by 1.9pp to 12.9%.
January 3, 2023
Spain | December confirmed the lower dynamism of the labor market in the second semester
The increase in Social Security affiliation and decline in unemployment moderated in December. Excluding seasonality, the registered workers increased by 11,000, unemployment fell by 23,300 and temporary employment rose (53.7%). Besides, job creation accelerated to 0.3% q/q SWDA in 4Q22 and unemployment fell again (-2.6%).
Social Security gross affiliation stagnated and registered unemployment fell by 33.500. Excluding seasonality (CVEC), employment continued to increase (30.000) and temporality in hiring maintained its rate of decline (to 53,7%). Unemployment fell (-35.000 CVEC), but employed job seekers increased.