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One of the most relevant characteristics of the recovery of advanced economies and Spain since the COVID-19 crisis has been the intensity of job creation and the resilience of the labor market. The balance is clearly favorable.
Employment hardly changed between October and December seasonally adjusted (0.0% quarter-on-quarter), but hours worked increased (0.5%). Unemployment and temporary employment rates fell (13.0% and 17.9% QoQ, respectively). In 2022, 617,000 jobs were created (3.1%) and the unemployment rate fell by 1.9pp to 12.9%.
Seasonality drove job creation (77,700) and contained the unemployment rate (12.7%). Seasonally adjusted figures (SWDA) show that employment fell (-0.1% QoQ), hours worked slowed (0.7%) and the unemployment rate rebounded (13.2%). However, temp…
Seasonality boosted employment (383,300) and the unemployment rate fell (12,5%). Seasonally adjusted figures show that job creation was modest (0,6% quarter-on-quarter), but hours worked increased (1,1%) and unemployment and temporary rates fel…
La Rioja's GDP grew by 4.4% in 2021. But the war in Ukraine and sanctions reduce growth expectations. Thus, Rioja's GDP is expected to grow by 3.4% in 2022 and 3.0% in 2023. By the end of 2023, GDP per capita could be 1% higher than in 2019.
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%).
In 4Q21, employment grew by 153,900 people (4.3% YoY), but hours worked hardly improved. The 158,900 drop in the labor force helped the unemployment rate to fall to 13.3%. In 2021, 571,200 jobs were created (3.0%) and the unemployment rate decreased to 14.8%.
The economy of La Rioja may have shrunk by 10.2% in 2020, and may grow 5.1% in 2021 and 6.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption and investment will start to push the …
The Basque economy may have shrunk by 10.5% in 2020, and may grow 5.5% in 2021 and 7.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption, investment and exports will push the econo…
The labor market will recover from the COVID-19 crisis, but the resolution of its structural weaknesses will still be pending, while it will have to face the challenges of digital transformation, the energy transition and aging. The 2050 Strate…
The Spain 2050 strategy establishes a broad and useful set of objectives on which social consensus and state pacts can be built, as well as measures to achieve them.
Employment increased 0.5% QoQ CVEC (-2.4% YoY), more than expected. However, the worked hours decreased (-0.9% QoQ CVEC; -3.5% YoY) and the employees in ERTE or partial unemployment who did not work exceeded 400,000. The decline in labour force participation reduced the unemployment rate to 16%.
