1

February., 2017

EMPLOYMENTTRENDSREPORT

SPAIN

Spain has moved from increasing to reducing unemployment

2Source: Ministry of Employment and Social Security

+7,86% -9,54%Dec. 2011 Dec. 2016

Year over Year Change

2016 ended with a historic record in unemployment reduction

3

In the last 12 months unemployment has fallen by almost 400.000 workers.

Source: Ministry of Employment and Social Security

Spain leads unemployment reduction in the Eurozone

4

Spain has moved from producing every other unemployed to beingresponsable of 40% of the unemployment reduction in the Eurozone.

Registered unemployment interanual variation (Eurostat)

Fuente: Eurostat

Spain has moved from job destruction to job creation

5Source: Ministry of Employment and Social Security

+3,12%-2,02%Dec. 2016Dec. 2011

Year-to-year variation

Spain has regained half the jobs lost during the crisis: 1.698.308

6Source: Ministry of Employment and Social Security

50,81% of jobs

recovered

Spain is the leading job creator in the Euro Zone after Germany

7

Spain has moved from leading job losses in the Eurozone to become thebenchmark county in employment creation.

Change in number of employed

Fuente: Eurostat

Spain is creating jobs in every region and in every sector

8Source: Ministry of Employment and Social Security

Social Security contributors. Year-to year variation. December 2016

+0,80%

Farming

+2,66%

Industry

+3,17%

Construction

+3,40%

Services

Spain’s labor market is creating jobs for all ages and categories of workers: España cuenta con todo el talento All our talent is on board (!?)

9Source: Ministry of Employment and Social Security

2016

Youngsters

Self-employed

Long termunemployed

Elderly

Women

Persons withdisabilities

6 out of every 10 young personsleaving unemployment in Europewere in Spain’s job market

The number of hires of personswith disabilities has hit a record

There are more women thanever in the labor market

There is 1 million more peopleover 45 working today thanthere was at the end of 2011

The number of self-employedworkers has increased by125.000 since 2011

8 out of every 10 workersleaving unemployment werelong-term unemployed (joblessfor 12 months or more)

All the economic growth is turning into job growth

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The Spanish economy is growing and all this growth is turning into job creation. In thelast quarter of 2016, the full-time employment grew 2,9 % year-to-year. GDP grew 3,2%.

Source: INE. Contabilidad Nacional

The share of permanent employees is higher now than in 2007

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The share of employees with a permanent job has increased by five pointssince the beginning of the recovery.

Source: Ministry of Employment and Social Security

The recovery is allowing to create 500,000 jobs per year, while moderate wageincreases are taking place

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With moderate wage increases, employees are gaining purchase powerevery year since the beginning of the recovery.

Source: Ministry of Employment and Social Security