labour market

World economy 6th February 2023

US labour market strength (unemployment 3.4%) hinders Fed’s roadmap

Bankinter: Non-agricultural job creation (January) reaches 517K vs 188K estimated and 223K previous. The unemployment rate stands at 3.4% vs. 3.6% estimated and 3.5% previous. Wages increase +4.4% vs. +4.6% previously (+4.3% estimated). Analysis: The data reflect the strength of the labour market, but may hinder the Fed’s roadmap. The future evolution of interest rates depends, to a large extent, on the evolution of inflationary pressures, including those coming from…

Spanish economy 28th November 2022

Effects of the labour reform: 62% of permanent contracts signed up to October did not create real jobs

In the first ten months of 2022, the enrolment of workers with permanent contracts totalled 2.6 million people. For this, 5.95 million contracts had to be signed, which means that almost 3.7 million of them, 62%, ‘vanished’ without being translated into new stable employment. This gap, moreover, is growing intensely: it has widened by half a million in the last month alone. The newspaper El Economista explains that although this…

Spanish economy 17th November 2022

Spain: 40% of employees earned at most the SMI in 2021 (€13,300)

The average gross annual wage stood at €21,519 in Spain in 2021, up 4.9% from €20,503 in 2020. The increase is the highest recorded since 2008, when they grew by more than 5%, but it is still far from the rise of 2007, when salaries were revalued by 7.3% just before the financial crisis broke out. However, behind this figure there is some small print, which is analysed today by…

Spanish economy 28th April 2022

Spain Passed 32 Royal Decrees In 2021, The Second Highest Figure Since 1978, Says Employers Association

Spain approved a total of 32 royal decrees laws in 2021, the second highest figure since 1978 after that of 2020, when the health crisis led to the approval of 39 such rules. This is according to the report ‘Regulatory Production’ that CEOE prepares every year and in which it is found that 2021 was the sixth consecutive year in which the number of royal decrees exceeded the number of…

Spanish economy 22nd February 2022

More Than 516,000 People With Disabilities Worked In Spain In 2020, The Highest Figure In History

With the latest official data published by the National Institute of Statistics on the employment of people with disabilities in Spain, the Randstad Foundation has calculated that in 2020 there were in the country 1.93 million people with disabilities of working age (16 to 64 years), reaching 6.3% of the total population in that age group. This figure is the highest since 2014 and has had a growth of more…

Spanish economy 1st February 2022

The quality of employment in Spain is 10% lower than the EU-15 average

Funcas | The Spanish labour market has substantial room for improvement in job quality, according to the latest issue of Panorama Social, a publication edited by Funcas. In one of the articles included in this issue written by Rafael Muñoz de Bustillo Llorente and Enrique Fernández Macías, and based on non-monetary variables (such as working hours, contractual conditions and career development prospects, amongst others), Spain is among the EU15 countries…

Relevant News Item 25th October 2021

Repeal Of Labour Reform, Mere Appearances

Fernando González Urbaneja | Pedro Sánchez has promised in some ad hoc forums to repeal the labour reform, although in other forums he has argued the opposite in order to point to a revision of the Workers’ Statute taking into account the new labour frameworks of the 21st century.

Temporary layoffs concentrate in activities mainly linked to trade and tourism

Spanish economy 4th October 2021

Spain’s Jobless Falls By 76,113 In September, A Record High For This Month, But How To Recover the 239,200 Still Furloughed?

With the drop in unemployment in September, the total number of job seekers reached 3,25 M at the end of the month. This figure would mean an unemployment rate of around 14.3%. Furthermore, temporary layoffs account for 239,200 workers, which means a decrease of 29,000 still included in these programmes compared to end-August. If we include this group added to self-employed with special benefits, unemployment stands at 3.7 M people, which means an implicit unemployment rate of around 16.3%.

Spanish economy 20th September 2021

The Summer Campaign Generated Over 900,000 Hospitality Contracts; 400,000 More Than Last Year, But 29% Less Than Pre-Pandemic

Randstad | Comparing the figures provided by the State Public Employment Service (SEPE) from ten years ago, we can see that the hospitality sector generated 912,401 contracts during the summer campaign, i.e. during the months of June, July and August. A figure 76% higher than last year, when 518,263 contracts were recorded, but still 28.8% below the 1,281,964 signed in 2019, before the outbreak of the pandemic. Whatsmore, this volume is on a par with that obtained in the summer of 2014, when 908,436 contracts were signed.

World economy 14th September 2021

US | The Labor Market Is Set To Fully Recover, But It Will Take Some Time

BBVA Research | The labor market hit the brakes in August, probably driven by both demand and supply factors as a consumption demand slowdown along with increasing health concerns, both associated with the Delta variant, impacted the labor market. Job creation was a major disappointment in August. There is still a way to go to fully recover and the road will likely remain bumpy in the short-term as the Delta…

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