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Why Has the Spanish Labour Market Sped Up

45 mins.
28 JANUARY, 2020
Ignacio de la Torre null
Leopoldo Torralba null
Macro Global Spain AER Global
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This brief note provides an in-depth analysis of the quality of the job creation data released by the Spanish National Institute of Statistics (INE) for the fourth quarter of 2019 in Spain (EPA, Active Population Survey) to conclude whether there are grounds for being pessimistic or rather, if its performance brightens a bleak outlook.  This was a highly anticipated statistic given the spreading wave of pessimism about its performance, and consequently, that of the economy as a whole. Pessimism is based on factors such as uncertainty around global macro and local politics, as well as on the minimum wage hike at the start of the year. 

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