Searcher
Camilo Ulloa
Camilo Ulloa
Principal Economist
Madrid

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

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%.
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%).
The economy slowed somewhat less than expected (to 0,1% q/q), largely due to the resilience of private consumption and exports, as well as to a smaller-than-expected deterioration in investment. In this context, total hours worked declined marginally and hourly productivity increased.