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Social Security affiliation rose more than expected in March (193,600 individuals), but unemployment declined less than forecasted (-33,400). Seasonally adjusted, employment rebounded in Q1 2024 (0.8% quarterly CVEC) and both hiring (-0.9%) and unemployment (-1.9%) decreased.
The Spanish economy is faring better than anyone expected a few months ago. And despite high interest rates, held back by a European economy that has been stagnant and amid heightened uncertainty surrounding economic policy. With all this, GDP growth in Spain (2.1%) still looks set to outstrip the overall eurozone (0.7%).
GDP growth in Spain for 2024 is revised upwards from 1.5 % to 2.1 %. In 2025, the advance would be reduced by 0.5 pp with respect to the previous scenario, to 2.0 %. The need to initiate the adjustment in public accounts and the greater weaknes…
Social Security affiliation rose by 103,600, while unemployment decreased by 7,500. After seasonal adjustments, it is estimated that the number of contributors grew by 85,000, and the number of unemployed people dropped by 35,000. The percentag…
Several indicators show that construction is facing a labor shortage problem. Moreover, the average age of workers has increased significantly in recent years and their level of training is relatively low. The sector must react in order to face…
Despite the labor market's resilience, the slowdown in job creation in 2023 is reflected by the 2.7 million additional jobs, considerably fewer than the previous year. The unemployment rate in December remained at 3.7%, largely explained by the decline in the labor force.
Social Security affiliation increased more than expected in December (29,900), but unemployment fell less than expected (-27,400). Seasonally adjusted, employment rebounded in 4Q23 (0.4% q/q SWDA) and unemployment fell (-0.3% q/q SWDA). The year 2023 closed with 539,700 more affiliated workers and 130,200 fewer unemployed.
Social Security affiliation fell by 11,600 people and unemployment by 24,600. After adjusting for seasonality, we estimate that the number of affiliated workers grew by 25,000 (2,500 more than in Oct) and the number of unemployed fell by 16,000…
Spain's GDP growth forecast is maintained for 2023 (2.4%), revised downwards to 1.5% in 2024 and is expected to accelerate in 2025 (2.5%). The growth bias is negative due to the geopolitical context and uncertainty in EMU activity and economic …
Colombia has made significant progress in terms of labor formality in the last four years. Labor formality has positive implications for people's living conditions, productivity and the country's capacity to face adverse events, among others.
Both Social Security affiliation (92,900 people) and unemployment (36,900) increased. Seasonally adjusted, the number of affiliated workers grew by 20,000 (4,000 less than in September) and the number of unemployed rose for the second consecutive month (2,500). The temporary employment rate fell by 0.2 pp to 57.6% SWDA.
The economy slowed down in 3Q23 (to 0.3% quarter-on-quarter) due to sluggish external demand and despite the good performance of most domestic demand. The advance in activity occurred in a context marked by a marginal increase in both hours worked and productivity per hour.
