As in September, the development of the labor market is positive, although the summer period, which usually saw the greatest evolution in employment, has come to an end. Again, like last year, a month in which unemployment always increased, such as October, led to a decrease in unemployment. Employment, on the other hand, continues to weigh on temporary employment due to its slowdown. These are the master keys of last month’s data.
Unemployment
Registered unemployment at State Public Employment Service (SEPE) offices fell by 27,027 people (-0.92%) in October. This is the most intense decline in the historical series this month at a time when unemployment is generally rising. The Department of Labor attributes this evolution and this change in market trend to labor reform, which has reduced temporary employment. As a result of the decline in unemployment indicated by all economic sectors, registered unemployment was 2,914,892, the lowest figure in one October since 2008. October is usually a month when unemployment rises. Last year was the first year that this trend was changed across the entire historical series, and this year’s October consolidated that evolution.
recruiting
One of the data reflecting the change experienced by the labor market is recruitment. A total of 1,524,139 contracts were signed in October, 697,335 of which 45.8% of the total was indefinite. Representing a 368,445 (-19.47%) decrease from the same month in 2021 and a slowdown in employment growth, these figures are more than four times the average for the historical series. Although the overall number of undetermined workers has decreased in volume compared to, for example, more than half in September, it continues to point to levels unseen in the Spanish labor market that the Government has attributed to labor reform.
This is also reflected in the detailed data. Of the total number of permanent contracts signed in October, 263,759 are full-time, 132.5% more than in the same month of the previous year; 259,834 were permanent-permanent contracts, almost nine times the October 2021 figure (+790.8%), and 173,742 were permanent part-time contracts, up 211% year-on-year.
Of all contracts signed in October, 826,804 were temporary contracts, 51.2% less than in the same month of 2021.
subscriptions
According to the data of the Ministry of Social Security, the increase in membership in the first 10 months of the year is more than 400,000 (401,348) affiliates when seasonality and calendar effects are taken into account. In this way, the membership level in August 2021, when the pre-pandemic membership level was exceeded, was exceeded by 745,198 people. The behavior in this month of October continues to be in line with the great dynamism in the labor market, with the 2016-2019 average. In October, the total number of members was 20,240,450, and seasonality and calendar effects were used. Links to innovative activities such as information technology and telecommunications stand out as it has grown significantly in all regions.
lands
Last month, registered unemployment fell in 10 autonomous communities. In absolute terms, Catalonia ranks second with 6,322 fewer unemployed, trailing Andalusia with 18,736; In third place is Extremadura with 2,670 fewer unemployed registered at SEPE offices.
Source: Informacion
Christina Moncayo is a contributing writer for “Social Bites”. Her focus is on the gaming industry and she provides in-depth coverage of the latest news and trends in the world of gaming.