labour market

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…

World economy 5th September 2021

Workers Of The World Unite! How The Post-Pandemic Recovery Is Increasing The Bargaining Power Of Labour

Katherine Davidson (Schroders) | More than 114 million people lost their jobs over 2020, according to the International Labor Organization. Even more saw their working hours and wages cut. It may seem counter-intuitive, but the post-pandemic recovery is seeing a shortage of labour – pushing up wages and shifting the balance of power in workers’ favour for the first time in decades.

Spanish economy 5th July 2021

20 Million People Working In Spain: A Real Opportunity?

Social Security registers a record high of 19,500,277 people affiliated in June in Spain, In addition, there are still 447,800 people affected by temporary layoffs. Infojobs conjectures that the trend of job creation will consolidate in the medium term. With Social Security enrollment at an all-time high and the European funds still to arrive, is a real opportunity 20 million people working in Spain?

Spanish economy 30th June 2021

The Spain 2050 Strategy: A Path To Improve Spanish Labor Market

Javier Andrés & Rafael Domenech (BBVA) | Our labor regulations make it difficult to hire people on permanent rather than temporary contracts, as severance costs are higher, there is legal uncertainty with layoffs and inflexibility when companies have to face economic, technical, organizational or production changes.

Spanish Politics 30th May 2021

The OECD Makes A Full Amendment To The Approaches Of The Spanish Ministry Of Labour

The Secretary General of the OECD, Ángel Gurría, yesterday presented the “Economic Survey of Spain 2021” together with the Vice-President for Economic Affairs, Nadia Calviño. The document is an amendment to the labour policy proposed by the Spanish government in its entirety. It warns of the high impact of the coronavirus crisis on the Spanish economy and rejects a tax hike until the economic recovery is consolidated. It also asks…

European economy 7th May 2021

The Eurozone’s Labour Market: Large Inequalities Between Sectors

At first glance, the “scar” on total employment looks set to be less deep than after the 2008 financial crisis. However, at the sectorial level, the shock may turn out to be deeper or longer lasting. One example is tourism, one of the sectors most affected by the pandemic and one of the most labour-intensive. These sectorial divergences may have consequences for the pace of recovery in European countries depending on their degree of exposure to tourism.

Forty years of democratic Spain: Haves and have-nots of labour market

Spanish economy 2nd March 2021

Spanish Labour Market: Sharp Increase In Furloughs in February Brings The Total To Almost 900,000

Randstad Research | Unemployment in Spain increased by 44,436 people in the month of February compared to January thus raising the number of jobless people to 4,008,789, a barrier not surpassed since April 2016, reflecting the restrictions impossed to deal with the third wave of the pandemic. Similarly, ther was an increases of 160,000 people in the number of furloughed employees, bringing the total to 899,383.

Spanish economy 24th February 2021

Spain Announces A Final Aid Package Of €11 Bn For SMES And The Self-Employed

The Government will approve in the coming weeks to earmark €11 Bn in subsidies for companies, SMEs and the self-employed in sectors particularly affected by the economic crisis, such as tourism, hotels, restaurants and small businesses. The aid plan could include haircuts on the financing provided by the Official Credit Institute ICO, which has offered €140 Bn in guarantees. The employers’ associations from the retail and hotel and catering sectors had demanded €12.5 Bn in aid from the different administrations in order to save both industries.

Spanish economy, Spanish Politics 15th February 2021

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.

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