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    Published on Thursday, July 27, 2023

    Spain | 2Q23 LFS: job creation exceeded expectations

    Summary

    Employment increased more than expected between April and June (603,900). Excluding seasonality, job creation picked up (1.4% QoQ SWDA), but the decline in average working hours limited the rise in hours worked (0.5%). Moreover, temporary employment (17.1% QoQ SWDA) and the unemployment rate (11.7%) fell.

    Key points

    • Key points:
    • Industry overshadowed widespread job creation.
    • Permanent contracts accounted for the increase in employment.
    • The unemployment rate stood at 2008 figures.
    • The Balearic Islands and Asturias led job creation and the reduction in unemployment.

    Geographies

    Authors

    Alfonso Arellano
    Giancarlo Carta BBVA Research - Senior Economist
    Juan Ramón García BBVA Research - Principal Economist
    Camilo Ulloa BBVA Research - Principal Economist

    Documents and files

    Report (PDF)

    EPA2T23.pdf

    Spanish - July 27, 2023

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