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Upward revision to our 2023 real GDP growth forecast to 1.4% (0.6% previously); we expect the economy will grow 2.2% in 2024. Private spending will drive growth this year and mitigate the slowdown in manufacturing amid external demand weakness.
The GDP growth forecast for all the Autonomous Communities increases in 2023, with greater momentum in the industrial and tourist regions. But the forecast for 2024 is reduced: inflation moderates the increase in consumption in the Mediterranean regions, and the improvement in Europe will not be enough to compensate for it.
In February, 176 thousand jobs were created (3.4% YoY), marking the second-highest job creation since 1998. Although this is a significant growth, it aligns with the expected slowdown.
The severe economic consequences of the pandemic and the implementation of furlough schemes have highlighted the important role that working hours can play when adjusting the labor market to the current climate.
The national unemployment rate stood at 13.7% and the urban unemployment rate at 14.5%, both lower than those observed a year ago. The employed reached 22.2 million people (+108 thousand seasonally adjusted), slightly above the average level ob…
We analyse the evolution of the labour market until December 2022 or January 2023 in this edition of OTMT . We take stock of the evolution of the main aggregate indicators and focus on the effects of demographic ageing on employment, working hours, occupational replacement and lifelong learning.
The GDP of Extremadura increased by 4.1% in 2022. We forecast an increase of 1.5% in 2023 and 3.2% in 2024, which will allow the creation of 15,500 new jobs between 2022 and 2024.
The GDP of the Balearic Islands increased by 10.7% in 2022. We forecast an increase of 3.1% in 2023 and 3.2% in 2024, which will allow the creation of 39,000 new jobs between 2022 and 2024.
This Working Paper briefly describes the latest update of RegData, a database that collects the main economic and demographic aggregates of Spanish regions over the last six decades. For the most part, the series start in 1950 or 1955 and exten…
The GDP of the Canary Islands will increase by 10.7% in 2022. We forecast an increase of 2.8% in 2023 and 3.3% in 2024, which will enable the creation of 69,000 new jobs between 2022 and 2024.
Good year in terms of employment growth and unemployment reduction for Colombia in 2022. In the main cities, the unemployment rate was reduced with respect to 2021.
Increases in the national minimum wage (SMI) are excellent news in economies in which productivity is growing and employment rates are high. However, there needs to be an awareness of the costs and benefits of the measure, which regrettably are still not being evaluated with the necessary detail and rigor.
