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Recruitment in Spain increased for the third consecutive month during November 2013, rising by +7.8% compared with a year ago. The growth was driven exclusively by a +9.1%, year-on-year, increase in temporary recruitment, according to the Spanish Labour Market Monitor (Asempleo).
In contrast, the number of permanent contracts continued to decline, falling to -6.2% below the number reported in November 2012. The biggest fall was reported for part-time workers, which declined by -10.6%, year-on-year.
Although positive, the weak growth forecast for the Spanish economy in 2014 of +0.5% is not expected to be sufficient enough to stimulate solid growth in net employment. Forecasts point to virtually no change in the employment rate for the year as a whole, with the year-on-year employment rate is expected to decline by -0.2%.
The unemployment rate for Spain is expected to fall during 2014 from 26.6% to 26.3%. As a result, Spanish unemployment is expected to remain significantly above the European Commission’s (EC) forecasted rate for the Eurozone (12.2%) and the European Union (11%).
The EC also predicts that Greek unemployment will fall by -1% in 2014 to 26%, which would result in Spain overtaking it as the EU country with the highest level of unemployment.