Spain | LFS 3Q22: The labour market loses traction

Summary

Seasonality drove job creation (77,700) and contained the unemployment rate (12.7%). Seasonally adjusted figures (SWDA) show that employment fell (-0.1% QoQ), hours worked slowed (0.7%) and the unemployment rate rebounded (13.2%). However, temporary rate decreased (19.6% SWDA).

Key points

• Key points:
• Job creation virtually stagnated, but hours worked only moderated their growth.
• The increase in employment in industry did not offset the decline in the other sectors.
• The growth in permanent employment offset the fall in other employment.
• The unemployment rate rose.
• Employment increased in almost half of the country, but it fell in the rest of the country.

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