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Economic progress and welfare depend in the long run on innovation, productivity, and employment. The digital revolution and the energy transition are an opportunity for Spanish society, but also a considerable challenge.

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.

The economy slowed somewhat less than expected (to 0,1% q/q), largely due to the resilience of private consumption and exports, as well as to a smaller-than-expected deterioration in investment. In this context, total hours worked declined marg…

Christmas is approaching and, as is customary every year, some of us will be thinking about what resolutions to make for the new financial year. For the second year in a row, we should include something or other to bring down inflation.

This Economic Watch evaluates the factors that explain the behavior of the Spanish economy between the third quarter of 2020 and the second quarter of 2022, and estimates the structural shocks behind the growth of GDP per working-age person (WA…

The reform of the Foreigners' Regulation may be a step forward in allowing companies to access human capital, easing the restrictions imposed on the Spanish economy by the expected drop in population and the mismatch between demand and supply in some parts of the labor market.

The economy accelerated more than expected (to 1.1% q/q) due to strength in private consumption and construction. However, there are some less positive elements on the demand side, as growth was constrained by a decline in machinery and equipment investment and goods exports

On June 7, 2022, the European Parliament and EU Member States reached an agreement on the Directive on adequate minimum wages. Despite the arrival of this Directive, differences in minimum wages between EU Member States will continue to exist f…

Now that the minimum wage approaches the target level of 60% of the average salary, we need to rethink employment and training policies. If we don’t, the unemployment rate, investment and productivity growth could all take a hit.

Once the labor reform has been approved, the next step will be to evaluate its effects, although mostly they will only be seen in the medium and long term. The authorities must ensure that the fall in temporary employment does not come at the e…

Leaving aside divergences in the short term, a comprehensive, balanced approach must pay attention to all the underlying information on the ongoing recovery of the Spanish economy that indicators such as GDP and employment can offer us.

Wages will attract close attention in the coming months. First, because rising inflation is placing wages under strain. Second, because there is uncertainty as to how much bargaining power employees and employers will have.