productivity

In Spain 1st July 2024

Government and unions want us to work less for same pay and reduce working week to 37.5 hours

Today is the meeting of the so-called “social dialogue”, the “social monologue” according to CEOE and CEPYME, the employers’ associations of large and small companies that have declined to present an alternative proposal to the decision already taken by the Government and trade unions (CCOO and UGT) to reduce the working week from 40 to 37.5 hours without a reduction in pay. Thus measure, according to their calculations, will mean…

Spanish economy 19th June 2024

The great challenge facing the Spanish economy: improving productivity

Oriol Aspachs (Caixabank Research) | The objective has been identified and diagnosed for some time, but it is difficult to achieve. It requires patience, public and private resources, and determination and cooperation between the different institutions and agents involved, precisely because the challenge is enormous. The Spanish economy is growing dynamically, but it is difficult to sustain in the medium term. To a large extent, it is sustained to a…

Spanish economy 17th April 2024

Investment and productivity in Spain remain stagnant, according to McKinsey

In the report entitled “Investing in Productivity Growth”, the consultancy points out that data for Spain shows that since 2012, labour productivity growth has been 0.4%, compared to an average of 0.5% in the rest of the major European economies, and 1% in the United States. Spain, the report points out, has had a sustained low productivity growth for a quarter of a century – only in Italy has it…

World economy 11th March 2024

Productivity gap widens between US and Eurozone

BancaMarch : The year-on-year rates for the fourth quarter of 2023 are a clear example of divergence, with -1.2% in the eurozone and +2.6% in the US. In the longer term, the growth differential between the two regions has also been observed. Comparing output per hours worked since 2019, the US grew by more than +6% compared with +1% for the euro area as a whole. ECB member Isabel Schnabel…

Spanish economy 5th March 2024

Spanish government to create National Productivity Council to address challenge of increasing this indicator

Banca March: Economic growth, salaries and fiscal policy are some of the issues addressed by Spain’s Minister of Economy. As Carlos Cuerpo said, the ministry is comfortable with the GDP growth forecast of 2% for 2024, above the estimates of other international institutions – IMF (1.5%), Eurostat (1.7%), OECD (1.5%) -. On the other hand, he explained that, in order to tackle the challenge of increasing productivity, a National Productivity…

Spanish economy 19th January 2024

Productivity in Spain falls by 7.3% in 20 years, after rising by 2.8% after Covid

Between 2000 and 2022, Spain accumulated a reduction in productivity of 7.3%. The fall is even more surprising when compared with other countries such as the United States and Germany, where in the same period this indicator rose by 15.5% and 11.8%, respectively. The accumulated fall is evidence of “a deficient use of the resources used” and places Spain at a “disadvantage” compared to the productivity of other countries. “A…

Spanish economy 16th September 2021

Let’s Talk About Productivity

Fernando González Urbaneja | Two economic and labour issues are occupying the public debate: how to sustain employment and how to increase wages. These are seemingly incompatible goals, but labour markets are so complex they cannot be locked into simple equations. Claiming that lowering wages will increase employment is as unfounded as claiming that raising wages will reduce employment. There are other, more complex factors involved in order to achieve…

Spanish economy 5th August 2015