The Spanish economy has breached the psychological barrier of 21 million workers for the first time in its history.
In April, the number of affiliates to Social Security increased by 199,538 workers.
Despite its heavy dependency on tourism, the Spanish economy has shown resilience after the pandemic and energy crisis.
A labor reform two years ago has provided more stability to the job market, with a notable increase in permanent contracts.
Immigration has significantly contributed to the job market's growth.
The Bank of Spain warns that the employment boom is not exclusive to Spain and mentions an increase in jobs not filled due to lack of labor.
Conclusion: The current success of the Spanish job market should be reinforced with measures to improve education and shift jobs to higher value-added activities, thus facing new challenges such as technology disruption, energy challenges, and an aging population.