Spain | Labor market gained momentum in 1Q26

Summary

Social Security affiliation increased by 211,500 people and unemployment dropped by 22,900. On a seasonally adjusted (SA) basis, job creation is estimated to have accelerated to 76,000 contributors, while the number of unemployed fell by 17,400. For 1Q26, employment grew 0.6% q/q (SA) and unemployment contracted by 1.8%.

Key points

• Key points:
• Employment creation picked up in March, particularly in the services and construction sectors.
• Both permanent and temporary hiring contributed to the increase in employment.
• Unemployment continued to decline across all sectors.
• Job creation persisted throughout the first quarter.

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