Announcements
Spain shows notable dynamism in job creation for the horizon of 2026, exceeding expectations in the number of workers.
However, this growth is not reflected in an equivalent increase in productivity, a key point for economic development.
Announcements
We will analyze the causes of this gap and the measures necessary to balance employment and productivity in the near future.
Economic Outlook: Growth Above Europe with Record Employment
Spain stands out in 2026 with GDP growth higher than the European average, projecting rates between 2.2% and 2.4%.
Announcements
Strong job creation drives this expansion, with more than 22 million employed people and record numbers.
This advance is supported by domestic demand and the arrival of European NextGenerationEU funds that boost the economy.
GDP projections at 2.2%-2.4% and creation of more than 1.5 million jobs between 2024-2026
According to BBVA Research and the OECD, Spain will grow around 2.2%-2.4% by 2026, with net employment exceeding 1.5 million.
This implies an increase of close to 2.3% annually in job creation, consolidating the positive trend.
Job creation remains a key driver supporting economic growth and labor market recovery.
Decrease in the unemployment rate to 10%, driven by domestic demand and NextGenerationEU funds
The unemployment rate will fall to 10% in 2026, supported by job creation and measures that promote domestic demand.
NextGenerationEU funds play a key role in financing strategic sectors and facilitating labor absorption.
This support contributes to maintaining a positive dynamic in reducing unemployment despite existing structural challenges.
Causes of Low Productivity: Structural Roots That Stop Impulse
Despite strong employment growth, productivity in Spain shows limited progress due to historical structural problems.
These problems restrict the potential for sustainable economic growth, affecting the capacity for innovation and competitiveness.
To improve, it is crucial to identify and correct the causes that limit efficiency and the value generated per worker.
Reduction in hours worked and dependence on the foreign population limit earnings per employee
The decrease in effective hours worked reduces average productivity, affecting economic growth per employee.
Furthermore, the high proportion of foreign workers, with variable levels of training, affects lower job performance.
These combined conditions limit productivity gains per employee and slow improvement in job performance.
High labor costs, regulatory rigidities and wage pressures that penalize efficiency
High labor costs and regulatory rigidity make business adaptation and investment in productive innovation difficult.
Increasing wage pressures can also reduce profitability margins and limit the ability to compete globally.
Overcoming these barriers is essential to achieve a more efficient environment favorable to the development of productivity.
Technological Solutions: AI and Digitalization as Urgent Catalysts
Digitalization and artificial intelligence appear as key tools to overcome structural limitations in productivity.
These technologies allow us to optimize processes, reduce costs and improve efficiency in multiple Spanish productive sectors.
Its accelerated adoption is vital to compensate for current barriers and increase added value per worker in the economy.
Adoption of generative AI to increase productivity in a context of technological disruption
Generative AI offers opportunities to innovate products and services, driving business competitiveness.
Its integration into work assets increases the ability to automate repetitive tasks and improve decision making.
Spain must accelerate this adoption so as not to miss the technological train and maximize the positive impact on productivity.
Deployment of European funds in technological adaptation to compensate for industrial weaknesses
NextGenerationEU funds are intended to modernize infrastructure and promote digital transformation in key sectors.
This financial support is crucial to reduce the industrial gap and facilitate the integration of disruptive technologies.
Investing in these projects favors productive renewal and strengthens the export capacity of the national economy.
Calls to Action: Focus and Productivity for a Competitive 2026
To achieve a competitive 2026, Spain must focus on improving productivity with concrete actions in training and labor flexibility.
The push for digitalization requires a joint commitment between government, companies and workers to overcome structural challenges.
Only in this way can the value generated per employee be maximized, ensuring sustainable growth and a more resilient economy.
Government and companies must prioritize AI training and labor flexibility
Government and businesses must prioritize artificial intelligence training to prepare a skilled and adaptable workforce.
Labor flexibility is key to allowing rapid adaptation to technological changes and improving organizational efficiency.
These measures will facilitate the integration of new technologies and increase competitiveness in the face of disruptive scenarios.
Investment in digital upskilling for professionals in the face of unemployment stabilization and economic pressures
Investing in digital upskilling is essential for professionals to maintain their current skills in a changing labor market.
This strategy is vital in the face of the stabilization of unemployment and the growing economic pressures that affect the capacity for innovation.
Promoting digital skills will strengthen productivity and allow better adaptation to new market demands.
