Spain | July employment records were less positive than expected

Summary

The growth in Social Security affiliation (21,900) and the reduction in unemployment (-11,000) in July were lower than expected. Seasonally adjusted, the number of affiliates increased by 16,000, 5,000 more than in June, and the number of unemployed by 11,000 after nine months of decline.

Key points

• Key points:
• Social Security affiliation rose less than expected for the third consecutive month.
• The contribution of services to job creation was modest.
• The decline in permanent contracts increased temporary employment rate.
• First seasonally adjusted increase in unemployment since September 2022.
• Services led the contraction in unemployment.

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