Politicians get sloppy with Spanish labour market

The on-going revolution in the global economy involves a series of parameters, terms and challenges that we should address with as much realism as possible. Take the labour market, for instance: it’s one of the main affected by this process of change. However, Spanish PM Mariano Rajoy and his Minister of Employment and Social Security Fátima Báñez don’t pay attention to it, and the Spanish labour market is in need of close attention.

Productivity, new technologies, fertility, generational replacement, migratory flows, incorporation of women into the job market, I+D+I (research, development and innovation for its Spanish initials) or underground economy are some of the issues that will pressure the labour market in Spain. Politicians should pay more attention to them because, after all, they are the foundations of Spain’s future.

Nowadays, there are around two million robots all over the globe, which is significant because they are part of the production process and they have an impact on the labour force –so much so that up to 10 million automobiles are produced with just 500,000 human workers, which means robots do 80% of the work.

The path opened by robotics and new technologies is just part of the problem that the labour market will face in the medium and long term, and it requires policies that –in the case of Spain- are not even considered by its politicians. However, the situation is quite complex in this country, where the fertility rate is 1.3% whereas the replacement level is 2.1% (too much difference).

That’s why it’s quite surprising that minister Báñez abstains from and even drops out of the problem arguing that the government only has to create the general frame and conditions to let the entrepreneur generate wealth and jobs. Her philosophy is scarce and remote from those business leaders that keep on dreaming about the golden years of construction.

About the Author

Carlos Díaz Guell
Editor at consensodelmercado.com and innovaspain.com, Carlos began his career in financial journalism as founding member of El País. He's been communications director of Bank of Spain, member of the ECC at the European Central Bank, Institutional Relations director at Iberia and editor at La Economía 16 magazine.

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