Published on Tuesday, April 2, 2024

Spain | March data confirm the positive trend in the labor market for Q1 2024

Social Security affiliation rose more than expected in March (193,600 individuals), but unemployment declined less than forecasted (-33,400). Seasonally adjusted, employment rebounded in Q1 2024 (0.8% quarterly CVEC) and both hiring (-0.9%) and unemployment (-1.9%) decreased.

Key points

  • Key points:
  • Social Security affiliation once again surpassed expectations.
  • Employment rose across all sectors.
  • The temporary rate in the General Regime saw a decrease.
  • The pace of unemployment reduction decelerated.
  • Enhanced labor market dynamism in the first quarter.

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