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As we discussed in our latest Quarterly Labour Market Observatory, conducted jointly with Fedea and Sagardoy Abogados, job creation has continued to grow in Spain over the last few months, but is now showing signs of slowing.

The national unemployment rate for July was 9.6%, 1.4 percentagepoints lower than last year's July rate (11.0%), being the lowest rate for themonth of July since 2015. On the margin, compared to June of this year, theunemployment rate was down 0.3 percentage points.

Employment increased more than expected between April and June (603,900). Excluding seasonality, job creation picked up (1.4% QoQ SWDA), but the decline in average working hours limited the rise in hours worked (0.5%). Moreover, temporary emplo…

In June, formal employment slowdown, reaching one of its lowest levels since 1998. Despite this, in cumulative figures from January to June, it represented a growth of 2.4%, a 0.2pp increase compared to the previous year, indicating strength in…

Retaking the path of convergence toward the most advanced economies will require a great deal of success in the investment of the European NGEU funds and in the reforms, and also time, with results that will be measurable in the medium and long…

In May, unemployment showed mixed signals, with a reduction at the national level but an increase at the urban level. The service sectors led job creation and women were the main contributors to this creation, accounting for 99% of the jobs created compared to May 2022.

Catalonia's GDP to grow by 2.6% in 2023 and 2.0% in 2024. Catalonia will return to the pre-pandemic level of GDP in 2023, and throughout 2024 it could regain that of GDP per capita. Almost 180,000 new jobs could be created between 2023 and 2024.

Upward revision in our 2023 growth estimate to 2.4% (1.4% previously); the resilience of domestic demand drives growth this year. We anticipate a slowdown in 2H23 due to lower external demand, with a carry-over effect on 2024.

The recent resilience of activity does not imply that the economic scenario for next year will be any better. In fact, it will most likely complicate the outlook for 2024.

The labor market reform approved at the end of 2021 has had clear effects. Increased restrictions on the use of temporary contracts and greater flexibility in the use of permanent contracts, especially those for permanent seasonal employees, ha…

The national unemployment rate was 10.7% in April, down from 11.2% in the same month of 2022. Seasonally adjusted, the April unemployment rate was at relatively low levels. These lower levels of the unemployment rate have been observed since February 2023 and have been leveraged by a strong increase in employment.

We analyse the evolution of the labour market until May 2023 in this edition of OTMT. We take stock of the evolution of the main aggregate indicators and focus on the evolution of employment and effective working hours and gender differences in occupations and working hours.