The Spanish labor market will continue to grow over the next two years. This is indicated by the 'Quarterly Report of the Spanish Economy' of CEOE, which highlights that between 2018 and 2019 there will be 900,000 new employees, while the unemployment rate will fall to 13.1% on average in this year.
Employment grew by 2.6% annual average according to the EPA, in 2017, which represents a slight deceleration with respect to the previous year, being in line with the situation of economic activity. This slight moderation in growth will be the gradual trend that the Spanish labor market will experience in the next two years.
CEOE predicts that, in terms of EPA, employment will grow 2.5% in 2018 and 2.3% in 2019.As a result of these increases, Spain will have 900,000 new jobs by the end of 2019.
Correspondingly, the unemployment rate will continue to decline gradually. Even the number of unemployed in Spain could be below three million in 2019, a figure that has not been recorded since 2008 , when in Spain there were 2,595,900 unemployed.
The unemployment rate will fall from 17.2% of the average recorded last year to 15.1% in 2019, according to CEOE forecasts. An improvement of almost two percentage points compared to the end of 2017 and a figure that, although slightly more positive, is close to the forecast of international organizations such as the IMF, which predicted that the rate will be at 15.6%, and the ILO, which placed it at 15.4%.
This improvement in the unemployment rate could reach 13.1%in 2019. A figure that is 13 percentage points less than what Spain had five years ago. These positive figures are consistent with the latest forecasts of the Foundation of Savings Banks (Funcas), which also puts the unemployment rate at around 13% in 2019, and reaffirms studies by financial institutions such as Bankinter or BBVA Research.
Spain could create 900,000 jobs in 2018 and 2019
Employment grew by 2.6% annual average according to the EPA, in 2017, which represents a slight deceleration with respect to the previous year, being in line with the situation of economic activity. This slight moderation in growth will be the gradual trend that the Spanish labor market will experience in the next two years.
CEOE predicts that, in terms of EPA, employment will grow 2.5% in 2018 and 2.3% in 2019.As a result of these increases, Spain will have 900,000 new jobs by the end of 2019.
Correspondingly, the unemployment rate will continue to decline gradually. Even the number of unemployed in Spain could be below three million in 2019, a figure that has not been recorded since 2008 , when in Spain there were 2,595,900 unemployed.
The unemployment rate will fall from 17.2% of the average recorded last year to 15.1% in 2019, according to CEOE forecasts. An improvement of almost two percentage points compared to the end of 2017 and a figure that, although slightly more positive, is close to the forecast of international organizations such as the IMF, which predicted that the rate will be at 15.6%, and the ILO, which placed it at 15.4%.
This improvement in the unemployment rate could reach 13.1%in 2019. A figure that is 13 percentage points less than what Spain had five years ago. These positive figures are consistent with the latest forecasts of the Foundation of Savings Banks (Funcas), which also puts the unemployment rate at around 13% in 2019, and reaffirms studies by financial institutions such as Bankinter or BBVA Research.
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