Publications

Once the favorable seasonality is discounted, employment rose 0.7% quarterly (SWDA), one tenth more than Social Security affiliation. Likewise, hours worked increased by 0.3% SWDA and temporary employment rates (down to 15.3% SWDA) and unemployment rates (down to 10.5% SWDA) dropped.

Formal employment stagnated in June, closing Q2 with negative growth. This reflects weakness in key sectors, declining investment, and deteriorating expectations, all of which contribute to an adverse environment that could impede short-term labor market recovery.

The proposal to reduce the workweek to 40 hours, aligned with ILO standards, could enhance productivity. However, it faces risks stemming from labor informality and the technological gap in Mexico. Artificial intelligence could play a key role in the transition, but investment is required to bridge the digital divide.

Spain's problem is not a shortage of savings, but insufficient investment. The challenge is to channel these savings, both domestic and European, into productive projects capable of generating a return, while creating quality employment and societal growth.

The national unemployment rate for May 2025 was 9.0%, lower than 10.3% a year ago and the lowest for a May in the last 24 years. Seasonally adjusted, the rate showed a decreasing trend between June 2024 and April 2025 and was around 9% in the March-May 2025 period.

This Working Paper briefly describes the latest update made to the sectoral module of the RegData FEDEA-BBVA database, 1955-2023.

Four years after the last labour reform, the rate of temporary employment in the Spanish labour market has unquestionably fallen. Yet, there is still a high rate of labor turnover and fairly heavy transitions from employment to unemployment.

Uruguay faces a global context of uncertainty and low growth. Domestically, there is a slowdown in GDP, fiscal challenges, and sluggish consumption and investment. However, the external sector is resilient, inflation remains stable, and the peso is showing strength.