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Social Security membership latest publications

November 3, 2021

Spain | October's labour market records mark a good start to the fourth quarter

Social security affiliation increased by 159.500 and unemployment practically stagnated. Excluding seasonal factors, BBVA Research estimates that employment increased by 74.000 and unemployment fell by 62.000. Workers with limited activity decreased to 285.000.

October 4, 2021

Spain | Labor market recovery gained momentum in 3Q21

Social security affiliation increased by 57,400 people in Sep-21 (45,000 seasonally and working-day adjusted (SWDA), according to BBVA Research estimates) and unemployment fell by 76,100 (76,000 SWDA). In 3Q21, both job creation (1.2% t/t SWDA) and unemployment reduction accelerated (-7.7%).

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.

August 3, 2021

Spain | The labour market recovery strengthened, but there is still some way to go

Social Security affiliation grew by 91,500 people in July and unemployment fell by 197,800. BBVA Research estimates that employment rose by 67,000 seasonally adjusted and unemployment fell by 181,000. However, the number of workers with limited activity still exceeds 551,000.

July 2, 2021

Spain | Labour market recovery gained momentum in 2Q21

Social Security affiliates increased by 233,100 (165,700 SWDA) and unemployed fell by 166.000 (-57,300 SWDA). In Q2, job creation accelerated (1.1% QoQ SWDA) and unemployment returned to the downward path (-0.7%). There are still more than 600,000 workers with limited activity

June 2, 2021

Spain | Labor market recovery gained traction at the end of the state of alarm

Social Security affiliation grew by 211,900 people and unemployment fell by 129,400. BBVA Research estimates that seasonally adjusted employment advanced by 71,000 people and unemployment fell by 27,000. Although affiliation approached pre-crisis levels, there are 1,002,000 workers with limited activity.

May 5, 2021

Spain | Employment started to pick up in April

Social Security affiliation grew by 134,400 in April and unemployment fell by 39,000. Adjusted for positive seasonality, BBVA Research estimates that employment rose by 29,000 and unemployment by 32,000. Nevertheless, the number of workers with limited activity still exceeds 1,094,000.

April 6, 2021

Spain | Labor market sluggishness in 1Q21

Social Security affiliarion rose by 70,800 in March and unemployment fell by 59,100. Seasonally adjusted, employment fell by 8,000 and unemployment by 20,000. In Q1, job creation moderated (0.2% q/q q/q CVEC) and unemployment rose (0.5%). There were still 1,184,000 workers with limited activity