Spain | Negative labor market signals in July, increasing uncertainty for Q3

Summary

Enrollment fell for the first time in the month of July (-7.400 people) and unemployment rose unexpectedly (3.200). Seasonally adjusted, the estimated decline in enrolment is 25.000, unheard of since 2020, and unemployment increased by 50.000. The positive note was the growth in indefinite-term employment.

Key points

• Key points:
• The evolution of Social Security enrollment was negative.
• Services were not able to keep occupancy rates up.
• The performance of the temporality was favorable.
• Unemployment increased for the second consecutive month.
• All sectors contributed to the seasonally adjusted upturn in unemployment.

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