Searcher
Camilo Ulloa
Camilo Ulloa
BBVA Research - Principal Economist

Camilo A. Ulloa joined BBVA Research in 2009 and now is Principal Economist for the Spain & Portugal unit. His main areas of interest are macroeconomics and applied econometrics, and his research has mainly focused on economic scenarios assessment, short-term forecasting and structural time series modeling.


He has been Teacher Assistant at the Department of Economics (Carlos III University) and Research Assistant at the Bank of Spain. He currently teaches in the Master's Degree in Foreign Trade (Carlos III University).


Camilo has a M.Sc. in Economic Analysis from the Universidad Carlos III de Madrid.

Latest publications

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).
The labor productivity gap between Spain and the eurozone has expanded over the past decade, despite higher gains in value added per hour and per worker in Spain since 2022.
Social Security contributors rose by 71,100, while unemployment fell by 46,800, aligning with expectations. Seasonally adjusted, affiliation grew by 0.8% QoQ in Q2 2024, slightly higher than in Q1 2024, and unemployment decreased by 2.1% QoQ (-1.8% in Q1 2024).