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Published on Wednesday, October 23, 2019

Employment, Wages and Productivity

Now that the economic slowdown in Spain looks to be giving way to GDP growth (forecast to be between 1.5% and 1.8% by 2020), discussion has turned to employment creation in the coming quarters.

Key points

  • Key points:
  • How much employment is created will depend on productivity performance forecasts.
  • BBVA Research forecasts suggest that GDP growth of 1.6% in 2020 would equate to full-time equivalent employment growth of 1.4% and productivity gains of 0.2%.
  • The problem with wages growing above productivity is that this is not sustainable long term. Nor is the opposite.

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