Spain | 4Q24 LFS: Positive and Better-than-Expected Data

Summary

Seasonally adjusted data shows a significant increase in both employment (0.8% q/q) and hours worked (1.2% q/q). The unemployment rate dropped to 10.8%, and the temporary employment rate decreased to 15.5%. In 2024, 471,700 jobs were created (2.2%), reducing the unemployment rate to 11.3%.

Key points

• Key points:
• Employment and hours worked rebounded remarkably.
• The temporary employment rate reached historic lows.
• Job creation drove the reduction in the unemployment rate.
• Asturias and Navarra led job creation in 2024.

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