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April 28, 2022

Spain | EPA1Q22: Labour market remained positive despite headwinds

Negative seasonality caused a decline in employment (-100,200) and an increase in the unemployment rate (13.6%). However, the adjusted figures (SWDA) are positive: employment grew by 1.1% qoq, hours worked by 0.8%, the unemployment rate fell to 13.0% and the seasonality rate hardly changed (25.1%).

April 4, 2022

Spain | Positive labour market balance in 1Q22, despite headwinds.

Enrollment increased in March (140,200 persons), temporary employment fell (to 69.3%) and unemployment barely change (-2,900 persons). Seasonally adjusted, this pattern was confirmed. In 1Q22, Social Security affiliation (1.2% t/t CVEC) and hiring (1.5%) grew while registered unemployment fell (-5.4%).

February 14, 2022

Spain | Labor reform and temporary employment

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 expense of lower growth in job creation.

August 12, 2021

Spain | Regional Economic Outlook. Third Quarter 2021

The improvement in health indicators and the relaxation of restrictions have reduced uncertainty and allowed a recovery in private spending and national tourism. The foregoing translates into generalized upward revisions in all regions in 2021, although with a different magnitude.

April 27, 2021

Spain | Regional Economic Outlook. Second Quarter 2021

From the second half of this year on, the progress in vaccination and larger investment related to NGEU funds shall push the recovery. In 2022, additionnally, expansive fiscal policies in Europe, Spain (and it´s autonomous communities) and the US shall push growth.

December 17, 2020

Spain | Catalonia Economic Outlook. Second half of 2020

Catalonia's GDP will fall by between 11.5% and 12.0% in 2020 and grow by between 6.0% and 6.5% in 2021, and 85,000 jobs could be destroyed in the two years. The impact of the crisis is differentiated by sector and region. Public policies are slowing down the fall in employment, but uncertainty remains high.

March 18, 2020

Slow Regional Convergence Despite Recovery

Between 2013 and 2018, the disparities in GDP per capita between the Autonomous Communities have barely reduced. This is unusual given that regional convergence in Spain has always appeared to be cyclical in nature.

March 2, 2020

Aragón... Broadly Speaking

BBVA Research has closely analyzed the Aragonese economy for a number years. We witnessed the resurgence following the "Great Crisis": 7 consecutive years of growth allowed GDP to recover, and it will grow above the average in Spain.