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Excluding positive seasonality, both employment (0.4% QoQ) and hours worked (0.5% QoQ) increased, but at a slower pace than Social Security affiliation (0.8% QoQ). Additionally, both the temporary employment rate and the unemployment rate dropped (to 15.9% and 11.6%, respectively).
Catalonia's GDP could increase by 2.6% in 2024 and 2.1% in 2025, which would allow 192,000 new jobs to be created in the region in the two-year period.
Despite the slowdown, permanent formal employment has shown constant gains. In June, formal employment had a year-on-year growth of 2.0%, 0.1 percentage points below our forecast, confirming the expected deceleration trend.
Spain faces two problems hindering its per capita income convergence toward the EU level: unemployment and low productivity growth.
The GDP of Madrid could increase by 2.9% in 2024 and 2.1% in 2025, which would allow the creation of 183,000 new jobs in the region over the biennium.
Reducing the work week is laudable, but how we go about it is key to achieving the desired effects. Collective bargaining is the ideal instrument to adapt the needs of companies and workers to each business and sectoral reality, in an effective and flexible manner.
In May, the national unemployment rate stood at 10.3%, 0.2 pps lower than a year ago. Employment grew by 463 thousand new employees. The gender gap in unemployment was the lowest since 2010. The arts, construction, food services and public administration sectors led job creation.
In 2024, the Spanish economy presents a heterogeneous outlook, with different autonomous communities showing significant variations in their growth prospects. In this quarter's BBVA Research Regional Economic Outlook report we explore the most …
Asturias' GDP could increase by 2.3% in 2024 and 2.0% in 2025, which would allow for the creation of 13,700 new jobs in the region in the biennium.
In 2024, strength of employment and services exports, maintain dynamism in Madrid, the Mediterranean and the islands. In 2025, tourism will lose momentum. Higher European demand and the end of the drought will shift growth to regions with more …
Formal employment in Mexico continues decelerating, growing 2.2% in May 2024, 0.2 percentage points lower than the previous month. Job creation is expected to pick up in the third quarter but at a slower pace than in 2023.
In April, the national unemployment rate was 10.6%, similar to a year ago and, seasonally adjusted, lower than in March 2024. The April rate results are due to the good performance of employment, which to some extent was due to the higher number of working days in April than in March, due to Easter Week.
