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A New research report from the Spanish Association of Large Temporary Employment Agencies (Agett) shows Spanish productivity up by 3.1% in the first three months of 2009 compared to the same period in 2008.
"Productivity in the Spanish economy only ever seems to go up significantly during periods of economic crisis. The last time productivity saw a major improvement was in 1994 when it rose by 3.7% and Spain was equally in recession," the association says in a statement.
"During recessions unemployment rises much faster than Gross Domestic Product (GDP) falls. GDP is therefore generated by far less people."
Adecco Espana, the Spanish subsidiary of international staffing services group Adecco, confirms Agett's findings. "The problem of the lack of Spanish productivity we have had for years is being resolved in a brutal fashion during this economic crisis. Unemployment amongst employees with a low level of qualifications is up by 10% in June 2009 when compared to June 2008. During the same period unemployment amongst university graduates was up by only 3.7%," Adecco say in their report.
Before the economic crisis the President of the Central European Bank, Jean-Claude Trichet, had still criticised "the very unsatisfactory productivity levels of the Spanish economy." This year Spain will come out top amongst the only four European Union countries who have registered productivity improvement. Spain is followed by Greece, Slovakia and the Czech Republic in the productivity improvement rank.