Spain faces the sharpest employment contraction in the OECD over the next generation, according to the Organisation for Economic Co-operation and Development’s Employment Outlook 2025 released on 9 July. The Paris-based body projects the country’s employment-to-population ratio will drop 10.3 percentage points between 2023 and 2060, compared with an average two-point decline across the OECD. The forecast reflects a 30 % fall in Spain’s working-age population and a jump in the old-age dependency ratio from 0.34 to 0.75, the report says. Absent policy changes, slower labour supply would limit annual growth in Spanish GDP per capita to just 0.13 % through 2060, down from the 0.53 % pace seen before the pandemic. The OECD recommends extending working lives for healthy older people, narrowing gender gaps in employment and, critically, boosting regular immigration to offset labour shortages. Implementing those measures could lift Spain’s long-term per-capita growth rate to about 0.73 %, the study estimates, although further productivity gains would be needed to match the projected OECD average of 0.9 %.