Similarly, it estimates employment growth in Álava, Bizkaia and Gipuzkoa as a whole at 1.8% this year, which will bring the unemployment rate to 7.5%.
Laboral Kutxa predicts a growth of the Basque economy of 2% in 2024, which is a upward revision of six tenthscompared to the last forecast (1.4%). Similarly, it estimates a employment growth in Euskadi of 1.8% this year, which will bring the unemployment rate to 7.5%.
These predictions were announced by Laboral Kutxa at a press conference in Bilbao by the director of the Laboral Kutxa Research Department, Joseba Madariaga, and the entity’s Business Development Director, Ibon Urgoiti.
The previous estimate, from December last year, indicated that in 2024 there would be a slowdown in the growth of the Basque economy to 1.4%, with an increase in employment of 1.1%, which would put the unemployment rate in 8th place. %.
Finally, this estimate has improved by six tenths, to a growth of 2% in Basque GDP, as a result of a better development than expected in the first quarter of the year, although it will be lower than expected in the Spanish State (2.4%) due to the “weakness” that is still present in the sector. Likewise, employment growth in the Basque Country is expected to reach 1.8% this year, which will bring the unemployment rate to 7.5%.
This “cyclical recovery” of the economy has made this “significant” upward revision possible and, in addition, there has been an “improvement” in the sector, which they hope will continue, although it will depend on the development of the sector in Europe. . Joseba Madariaga has assured that growth is based on the ‘trinominal’ formed by services, the labour market and consumption.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
