This job rate among newly departed people university or higher FP degree highest since then in Spain 2008, when the collapse of Goldman Sachs and the bursting of the housing bubble ushered in one of the largest youth migrations in recent history. So thousands of recruits had to pack their bags and set out following the path of their grandparents’ generation. Germany, United Kingdom anyone Franceseeking, inter alia, a life and opportunities that Spanish companies or the Administration do not offer them.
From this “foreign mobility” euphemistically baptized by the then PP Employment Minister, fatma banez (today at CEOE) went to current employment records, which triggers the employment rate of recent graduates. 79.1%It is slightly below the European average and at a 15-year high, according to data recently updated by Eurostat. This indicator, compiled by the European Statistical Office, measures how many people who completed their tertiary education less than three years ago currently have a job.
explosion housing bubble It was a blow to many, but especially to the ‘millennials’, a generation that was turning its head in the job market and condemned to wander the desert of the Great Recession or look outside for pods. The proportion of recent graduates with a job fell to a record low of 59% in 2013. At the time, “the most prepared generation in history” had to leave because higher education had never before been synonymous with semi-guaranteed layoffs.
And in parallel, unemployment rate Among those under 34 – this is the range by which Eurostat measures the addition of new graduates – it was rising. More unemployed at this age peaked in 2013, 35.2%. Limiting it a little more by age, between under 25 unemployment rose to 55.5%. In other words, there were more young people looking for jobs than working. Today, whether a new graduate or not, the unemployment rate under 34 is 16.5%, and the unemployment rate under 25 is 27.9%. Still very high numbers compared to the standards, but half as much as the Great Recession.
In more intense and often more stable conditions. After the last labor reform approved in 2021, temporary employment rates among young people, though still high, have moderated. In 2013, at the height of the Great Recession, temporary employment among those under 30 was 46.5%; According to the most recent data from the INE’s active population survey (EPA), it is 32.2% today.
A cocktail of greater stability and greater employment among newcomers, among other things, explains the current downward trend in fear of losing said employment. This is reflected in consumption and is refreshing for the economy. As highlighted by Bank of Spain According to a report published at the end of July, the low-income and the youngest contribute more heavily to total spending by not making preventive savings for fear of layoffs.
Far from Germany, just like France
Spain is increasing its employment rate among recent graduates to a level close to the European average of 82.4% in 2022, just three points above the Spanish rate. The odds are too far GermanyWith 92.2%, the Germans who are actually fully employed, that is, who quit the race and do not work, are because they do not want or are not interested. Not surprisingly, and despite being in a technical recession, Germany has a symbolic global unemployment rate of 3%.
However, Spanish numerals look more like this: France or northern European countries, for example Greece or Italy, are higher than those in the south, as they record employment rates among recent graduates about 15 points below the Spanish average and one of the lowest in the entire ‘Old Continent’.
Source: Informacion
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