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    February 4, 2020

    Spain | The weakness of labour market registrations continued in January

    Gross social security affiliation fell by 244,000 people in January (1.8% YoY) and unemployment rosed by 90,200 (-1.0% YoY). Excluding seasonal factors, employment barely grew by 9,000 people and unemployment by 4,000, which, in any case, represented a prolongation of the sluggishness in the labour market registrations

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    January 3, 2020

    Spain | December data ratify the sluggishness of the labor market in 4Q19

    Social security affiliation rosed by 31,700 people in dec-19 (2.0% YoY) and unemployment fell by 34,600 (-1.2% YoY). Excluding seasonal factors, employment grew by 15,000 people and unemployment by 5,000. In 4Q19 the affiliation slightly advanced (0.4% t/t CVEC) and unemployment broke its downward trend (0.1% t/t CVEC)

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    December 3, 2019

    Spain | Moderate growth in affiliation and unemployment in November

    Social security affiliation fell by 53,100 people (2.3% YoY) and unemployment rose by 20,500 (-1.7% YoY). Excluding seasonal factors, there are signs of stability in the labor market, in figures less favorable than those of 2018: employment grew by 30,000 people and unemployment registered its fourth growth in 2019 (1,200)

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    November 5, 2019

    Spain | Employment gained traction in October, but unemployment rebounded

    Social security affiliation increased by 106,500 people (2.3% YoY) and unemployment by 97,900 (-2.4% YoY). Once seasonality is accounted for, mixed signals are observed in labor market: employment gained dynamism and grew by 39,000 people, but unemployment registered its third non-consecutive growth in 2019 (13,000 people)

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    October 30, 2019

    The Spanish Public Pension System: Forecasts and Suggestions For Improvement

    The public pension system is a basic pillar of the welfare state. The Spanish system is perfectly viable and sustainable, provided that it adapts to ongoing economic, social and demographic changes in Spanish society.

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    October 21, 2019

    The Road

    Having seen the update that various institutions have made on growth scenarios for the Spanish economy over the last week, I was reminded of a quote from Cormac McCarthy's book "The Road."

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    October 7, 2019

    A more intense slowdown than expected

    The recent review by the INE (Spanish Office of National Statistics) of the Quarterly Accounts came as a surprise, with growth in the second quarter falling below previous progress and the forecasts by analysts and experts.

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    October 2, 2019

    Spain | September confirmed the cooling of labor market in the 3Q19

    Social security affiliation increased by 3,200 people in sep-19 (2.4% YoY) and unemployment increased by 13,900 (-3.8% YoY). Excluding seasonality, employment grew by 26,000 and unemployment fell by 18,000. Both the increase in affiliation (0.4% QoQ CVEC) and the fall in unemployment (-0.4% QoQ CVEC) lost traction in the 3Q

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