Spain| LFS Employment nears pre-crisis level in 3Q21, but unemployment rate remains higher

Summary

Job creation rebounded in 3Q21 (1.3% QoQ SWDA; 4.5% YoY) and the number of workers on ERTE or partial unemployment fell to 95,200. The labour force increased strongly after the end of the restrictions, which limited the improvement in the unemployment rate (14.6%)

Key points

• Key points:
• Employment rebounded, but less than expected.
• The unemployment rate fell to 14.6%, less than expected as a result of the upward surprise in the labor force.
• Almost all the autonomous communities created jobs in the third quarter, led by the Canary Islands and Cantabria.

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