Spain lost 185,000 jobs in August; late summer was less harsh than before Covid

like a love Summer, August is coming and the expanding season work finished. Last month it closed as follows: 185,385 fewer employees total in Spain 20.7 million are among the active contributors. The loss of employment after the end of the summer campaign is slightly less than in previous years, but it is serious as it is almost every year. Added to the positive inertia that the labor market has accumulated, this leaves the highest number of active workers in Spain in an August in its history.

Unemployment, on the other hand, increased by 24,826 to total 2.7 million unemployed. This was the lowest monthly increase in August since 2016.

Like a natural cycle, every year hiring begins to stagnate in the winter, green at the gates of Holy Week, and peak with the onset of summer, fading into a recession from August. autumn dormancy until the end of the year.

Although the labor market has stabilized somewhat with regulations such as job reform, these temporary cycles continue to leave their mark on Social Security membership data and unemployment in an economy that is heavily dependent on sectors like tourism. Updated this Monday by the Government.

This August has been the ‘least bad’ since 2017, with permits taken from 2020 and 2021, the impact of covid and the easing of tensions in the summer, followed by new restrictions in the fall. Before it exploded, the pandemic in late summer left more than 200,000 contributors out of their jobs.

End of summer affects everyone

The job loss was cross-sectional, both regionally and sectorally. The end of the tourist season has had a special impact on the following regions: CataloniaThis led to the destruction of jobs in absolute terms; 60,317 fewer people were employed, contributing a total of 3.6 million. The August bite was noted with particular attention. i grew up And Madridalthough this seasonal factor was not so present, 36,860 out of a total of 3.5 million employees remained contributors.

By sectors, only health, domestic workers and energy supply activities escaped the red numbers. Schools and colleges that had recently terminated the few makeshift schools remaining on their payrolls were the ones that pulled the statistics down the most, with a member balance of almost 60,000 in the past month.

positive inertia, but less

The government took advantage of inertia and seasonally adjusted data We will evaluate the data for August. After applying the statistical ‘kitchen’ to subtract the calendar effect and show the labor market trend, August closed with a positive balance. 17,745 more members to Social Security.

These seasonally adjusted data show positive inertia, but are less explosive. spring of records In the labor market perspective, the seasonally adjusted average monthly increase in 60,262 affiliates in 2023 is 3.4 times higher than in August.

signs slowdown and there has been a certain slowdown in recent months, but in June more alarms were sounded leading to a more reactionary scenario than what has finally happened. Spain comes from an expansionary cycle and is one of the most productive countries in its recent history in terms of job creation. Post-pandemic cycle covidAn economy that survived the war in Ukraine and the storm of inflation and did not lose its strength until the last quarter.

As an example, Social Security has already added a total of 482,096 members these eight months of the year; this is more than all jobs created in the 12 months of 2022. It is not yet known how many of these new employees will land in the job. Protecting the Spanish labor market the last phase of the year, the coldest and most complex when it comes to recruitment.

Source: Informacion


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