The most recent Encuesta de Población Activa (a major population survey in Spain) was published on Friday and made it clear that the summer season has improved employment figures. In the second quarter, 76,500 people came off the unemployment list, and nearly this many jobs could be created during this summer.
Employment is up thanks to exogenous factors such tourist patterns deviating toward Spain due to the Arab Spring, but not due to improvements in the state of the domestic economy or frugal touch-ups that the government has applied to our labor market.
The Spanish job market is at the mercy of the seasons and will plod ahead with the same structural handicaps. So questions of growth and the redefining the production model need to bear this in mind.
