Spain: Selected Issues
IMF Staff Country Reports, August 14, 2015
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- Spain: Selected Issues
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Bibliographic details
- Published: August 14, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513529059.002
Summary findings
- The paper presents a preliminary assessment of recent labor market reforms in Spain, focusing on the 2012 labor market reforms.
- Wage moderation is contributing to a visible recovery in headline employment growth.
- The reforms have made the labor market more resilient to shocks.
- Some evidence exists that the contribution of temporary contracts to employment growth has started to decrease.
- Reliance on temporary workers remains strong overall.
- Further structural reforms will be required to reduce the still very high level of long-term, structural unemployment.
Evidence and analytical themes
- Labor market reforms evaluated: 2012 labor market reforms.
- Observed effects:
- Wage moderation → visible recovery in headline employment growth.
- Increased resilience of the labor market to shocks.
- Early signs of decreasing contribution from temporary contracts to employment growth.
- Remaining challenges:
- Strong overall reliance on temporary workers.
- Persistently very high long-term, structural unemployment that requires further structural reforms.
Policy implications and recommendations
- Continue structural reforms aimed at reducing the reliance on temporary contracts.
- Implement measures to address long-term, structural unemployment, building on the resilience gains from the 2012 reforms.
- Maintain wage moderation policies to support continued employment growth recovery.
Subjects and keywords
- Subject: Employment, Fiscal policy, International organization, Labor, Monetary policy, Potential output, Production, Total factor productivity, Wages
- Keywords: Employment, employment growth, Europe, fiscal policy, Global, micro firm, Potential output, TFP slowdown, Total factor productivity, wage growth, Wages
International Monetary Fund. European Dept. "Spain: Selected Issues", IMF Staff Country Reports 2015, 233 (2015), accessed 8/28/2026, https://doi.org/10.5089/9781513529059.002
Content in this bundle
- Spain: Selected Issues; IMF Country Report 15/233; July 10, 2015