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April 7, 2025
The latest Social Security enrollment figures for March come as welcome news for the Spanish economy, yet they are also a timely reminder that job creation alone is not enough in itself: we also need it to be more productive.
March 4, 2025
Social Security affiliation increased by 100,300 people and unemployment fell by 6,000. After seasonal adjustment, it is estimated that the number of contributors grew by 59,000 and the number of unemployed fell by 23,000. The percentage of affiliates with temporary contracts fell.
September 3, 2024
Social Security affiliation fell by 193,700, and unemployment increased by 21,900 due to seasonal factors. After adjusting for this factor, it is estimated that the number of contributors rose by 23,000, while the unemployed decreased by 4,500. The percentage of affiliates with temporary contracts increased marginally.
November 27, 2023
The latest Observatory published by BBVA Research, FEDEA and the Sagardoy Foundation shows a labor market in transition in Spain. Job creation continues, but at a significantly slower pace than in the first half of the year.
October 17, 2023
The Spanish economy presents a strange case in which growth and stagnation coexist. This is due to the divergence in the trends shown by services on the one hand, and industry, agriculture and residential construction on the other.
September 22, 2023
As we discussed in our latest Quarterly Labour Market Observatory, conducted jointly with Fedea and Sagardoy Abogados, job creation has continued to grow in Spain over the last few months, but is now showing signs of slowing.
September 4, 2023
Seasonality worked against Social Security affiliation (-185,400) and unemployment (24,800) in August. Excluding its impact, the number of affiliates increased by 20,000, 3,500 more than in July, and the number of unemployed decreased by 7,000 after growing the previous month. Temporary employment ratio fell to 56% SWDA.
April 4, 2023
Social Security affiliation rose strongly in March (206,400 persons), temporary employment fell (to 53.2%) and so did unemployment (-48,800 persons). After adjusting for seasonality, in 1Q23, Social Security affiliation grew (1.0% t/t SWDA), while hiring and registered unemployment fell (-4,6% and -2.7%, respectively).
March 27, 2023
The loss of purchasing power, together with the growth of the financial burden and volatility in the markets, may lead to a prolonged period of low growth instead of a moderate, one-off recession.
March 2, 2023
Social Security affiliation rose strongly in February (88,900) and unemployment practically stagnated (2,600). After adjusting for seasonality, it is estimated that both the number of Social Security affiliation (83,000) and temporary employment rate grew (to 55.5%), while unemployment fell (-29,000).
June 2, 2022
The increase in temporary employment boosted Social Security enrollment (213,600 people) last month, while unemployment fell (-99,500 people). Seasonally adjusted, this pattern was maintained. Employment grew (70,000 people) and the temporary employment ratio (up to 63%) while unemployment fell (-55,000).
May 4, 2022
Affiliation increased last month (184,600 people) -driven by permanent employment- and unemployment fell (-86,300 people). Seasonally adjusted, this pattern was maintained. Employment grew (90,000) and the temporary employment ratio fell (to 58%) and unemployment (-50,000).
