Spain | 1Q24 LFS: Positive Start to the Year.

Despite the quarter's negative seasonality, both the number of jobs (up 0.5% quarterly CVEC) and hours worked (up 0.3%) increased. Furthermore, the rate of temporary employment and the unemployment rate both fell (to 16.1% and 11.7% CVEC, respectively).

Key points

• Key points:
• Both the number of jobs and the hours worked showed favorable progress.
• The service sector was responsible for the majority of CVEC employment creation.
• Permanent contracts were a key driver of employment growth.
• Seasonal rise in the unemployment rate.
• Cantabria and the Canary Islands led in job creation.

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