Spain | Quarterly Labor Market Observatory 2Q2026

In this edition of the QLMO, we analyse labour market developments based on data available through Q2 2026. We take stock of the main aggregate indicators and examine occupational exposure to generative AI, as well as its relationship with the occupational structure of employment and labour market entry.

Key points

• Key points:
• Job creation accelerated in Q2 2026. The composite indicator rose by 0.7% QoQ, 0.2 pp more than in Q1. Data for July and August point to a further increase in Social Security registrations in Q3, supported by the extraordinary regularisation programme.
• Foreign workers and permanent contracts accounted for the bulk of employment growth. GDP per worker rose by 0.1% QoQ, 0.2 pp less than in Q1. An increase in the intensive margin offset the decline in hourly labour productivity (-0.2%).
• Exposure to generative AI is highest in administrative and professional occupations and lowest in manual occupations.
• Since 2022, employment in occupations most exposed to AI has grown faster than the average. So far, there is no evidence of a negative relationship between AI exposure and aggregate employment.
• After completing their studies, new labour market entrants are increasingly taking up jobs in occupations with high exposure to AI, whereas recent immigrants are predominantly employed in low-exposure occupations.

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