Social Security affiliation grew by 72,600 in Dec-21 and unemployment fell by 76,800, more than expected. Seasonally adjusted, employment rose by 73,000 and unemployment dropped by the same amount. In Q4, the increase in affiliation kept its pace (1.1% QoQ SWDA) and the reduction in unemployment slowed (-6.6%).
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September 2, 2021
Spain | Job creation continued in August and the fall in unemployment surprised again.
Social Security affiliation and unemployment decreased in August (-118,000 and -82,600, respectively). Adjusted for negative seasonality, BBVA Research estimates that employment rose by 32,000 and unemployment fell by 104,000. The number of workers with limited activity is now below 500,000.
One of the greatest challenges to be discussed in Spain over the coming months will be how the furlough system should be reformed.
Andalusia's GDP may have shrunk by 11.2% in 2020 and might grow 5.4% in 2021 and 6.6% in 2022. Public policies lessened the impact of COVID-19. Consumption and investment will drive the economy through 2021. Although with risks, the situation w…
Social security affiliation fell by 219,000 in January and unemployment rose by 76,200. Adjusted for negative seasonality, employment rose by 32,000 and unemployment dropped by 24,000. However, the number of workers covered by an ERTE and the s…
A smaller contraction in GDP is expected in 2020 (-11%), due to upward surprises in all components of demand, especially domestic demand. The improvement in foreign tourism in the second part of 2021 will allow for further growth in the island communities. In 2022, the boost from European funds will favor the economy.
26,400 jobs were created in December (16,000 swda) and unemployment rose by 36,800 (46,000 swda). In Q4, affiliation slowed down (1.1% t/t CVEC) and unemployment stagnated. The impact of the crisis is remarkable: -830,000 jobs and 800,000 unemployed.
Affiliates increased by 114,000 people in October (-2.3% y/y) and unemployment rose by 49,600 (20.4% y/y). Once seasonality adjusted, employment grew by 45,000 people, half as in September, and unemployment fell by 40,000, 8,000 less. The impac…
As the Spanish economy was still recovering from the effects of the Great Recession, the COVID-19 crisis had a dramatic impact on its labor market, which has been the worst-performing in Europe during said crisis.