Spain | LFS confirms a partial but better than expected recovery in 3Q20

Job creation was 569,700 (-3.5% YoY). Employees who worked fewer hours than usual due to ERTE or partial unemployment fell to 887,100. The easing of mobility restrictions allowed job searches to take place, which led to a rebound in the active population and, therefore, an increase in the unemployment rate to 16.3%.

Key points

• Key points:
• Sizable but incomplete recovery in employment, in a framework where ERTE's continue to play a cushioning role.
• The labour force rebounded less than expected after the end of the lockdown and contained the increase in the unemployment rate.

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