Overall Score

6.5 in 2015 6.4
0 2.5 5 7.5 10

Key Finding

Upward pressures from a widening in pay differentials across industries
is being partly off set by fewer job vacancies and a fall in structural unemployment (albeit still high). However, without additional reforms, high structural unemployment could drag on consumption and the welfare bill over the medium term.

BREAKDOWN OF SEVEN INDICATOR SCORES

Scores
0 2.5 5 7.5 10
Education
flexibility
4.3
Labour market
participation
7.2
Labour market
flexibility
5.3
Talent
mismatch
10.0
Overall wage
pressure
4.7
Wage pressure in
high-skill industries
10.0
Wage pressure in
high-skill occupations
4.0

COUNTRY OVERVIEW

View from the ground

Spain has created jobs during 2016, a genuine cause for celebration – especially for those new and returning wage earners. The country has also spent a large part of the year without a government following an inconclusive general election in December 2015, repeated in June 2016. This policy-making hiatus has delayed the reforms and evolution that we hope to see in order to ensure that the Spanish world of work becomes more efficient and equitable. Education systems that focus on increased employability should be top of the list so that the critical levels of talent mismatch and sectorial wage inflation begin to normalise.

Chris Dottie, Managing Director, Hays Spain

Chris Dottie, Managing Director, Hays Spain

Country Profile

Economic growth is moderating from the peak reached in mid‐2015 and the short‐term outlook remains positive as Spain continues to bene t from strong tailwinds.

Although unemployment remains very high by European standards, job creation continues to be strong, with the jobless rate falling to a six‐year low of 20 per cent in Q2.

Chris Dottie, Managing Director, Hays Spain

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