Employment In Spain Holds Up This time, But Duality In The Labour Market Continues To Wreak Havoc
Josep Mestres Domènech (CaixaBank Research)| In times of crisis, the reduction in employment traditionally occurred in Spain through a significant destruction of jobs, while in periods of expansion job creation was rapid. This has not been the case in this crisis. For the first time, the declines in GDP have been accompanied by a much smaller reduction in employment. This is not only due to the unique nature of this crisis, which originated in the health sphere, but also due to a very different response from economic policy.
