Companies have to make an effort to generate quality jobs so the recovery in confidence and consumption ends up being consolidated, says Mutua Madrileña chairman Ignacio Garralda.
Spain labour market
According to forecasts from The Organisation for Economic Co-operation and Development (OECD), Spain’s labour market will be amongst the top performers in the “Club of the rich countries,” registering the biggest advance in terms of employment in 2016 and overcoming the negative trend seen during the crisis. The international institution warns that a new recession could take Spain by surprise without having recovered all the jobs lost in the crisis.
LONDON | By Antonio García Pascual at Barclays | The most recent labour market data have been improving at a faster pace than we had envisaged, including results for the Q3 14 Economically Active Population Survey (EAPS). The EAPS shows that employment increased by 151k in Q3 (private sector +155k; public sector -4k). The number of unemployed fell by 195k, standing at 5.4mn. The unemployment rate stood at 23.7% (24.1% sa), compared to 24.5% in Q2 (24.7% sa). The participation rate continues to fall, to 59.4% (sa), albeit at a moderate pace – this is also consistent with ongoing net migration outflows.