labour market

employed spain

Spain Unemployment Continued To Rise In May ; But The Figure Is Ten Times Lower Than In Last Two Months

The number of unemployed in Spain increased by 26,573 people in May, compared to 282,900 the previous month and -84,075 in May 2019. This is the worst May figure in recent years, but it is a vast improvement on previous months (up 282,000 in April and up 302,265 in March).This may be enough to raise some optimism in the Spanish labour market. The labour market data for May also reflects an increase of 97,462 people registered with Social Security compared to the previous month.


Caixabank, Telefónica, El Corte Inglés or Iberdrola, the Spanish firms best prepared to confront 2019

Over 40% of Spanish Firms Plan To Cut Their Workforce Due To Covid-19

More than 40% of Spanish companies are planning or considering cutting their workforce due to the impact of Covid-19. At the same time, 25% of firms have frozen salaries and 16% are reducing them, according to a survey of nearly 1,000 European organisations, carried out by consultancy group Willis Towers Watson. More than one hundred Spanish companies are included in the survey.


unemployment spain

Spain Loses Almost 950,000 Jobs Since The Beginning Of The Coronavirus Confinement

The Social Security has lost 947,896 affiliates since the beginning of the COVID-19 crisis and up to end-April, leaving the total number of contributors at 18.39 million. Meanwhile unemployment grew in these last two months by more than 585,000 people, exceeding 3.8 million unemployed. The Ministry of Labour has not included the almost 3.5 million Spaniards protected by a situation of total or partial suspension from work via temporary layoffs.


OFICINA Empleo Spain

Coronavirus Shatters Spain’s All-Time Unemployment Rise Record: 302,365 People Lost Their Jobs in March

In the face of the economic slowdown due to the restrictive measures in place to stop the spread of Covid-19, Spanish companies laid off or terminated contracts for over 302,365 workers in March, which is more than 50% higher than the negative milestone of January 2009 (at the start of the last economic crisis) when there were almost 199,000 unemployed.This brought the total number of unemployed to 3.548.312. Finally, Spain’s labour market have lost 833,979 members up to March 31.


Spanish SMEs provide jobs for 71% of social security contributors

Spain Approves 20 Bn euros In Guarantees For SMEs And Self-Employed Workers

Half of the line of guarantees’ first tranche, amounting to 20 billion euros, will be earmarked for SMEs and the self-employed, guaranteeing 80% of new loans and financing renewals. The remainder will go to medium and large companies. In the latter’s case, up to 70% of new loans will be guaranteed, while loans’ renewals will be guaranteed up to 60%. Once the resources are used up, the government will automatically activate new tranches of credit lines up to the maximum target of 100 billion euros.


ERTES 1

Around 500 ERTES Now Affect More Than 1 Million Workers In Spain

The rapid spread of the coronavirus in Spain is sparking a decline in activity for many companies, beyond just the shops, bars and restaurants which have been forced to close. Some giants such as SEAT, Volkswagen or Burger King have announced that they are going to launch temporary layoffs (so called ERTEs) to deal with the situation. The Spanish government calculates that the extraordinary measures already activated could affect up to one million jobs.


The returm of migration to Spain

The Return Of Immigration To Spain

CaixaBank Research | Immigration is back in Spain after years of crisis in which there were many more immigrants departing than arriving (between 2010 and 2014). More specifically, Spain has once again become a net recipient of foreign immigration since 2015 and the trend has intensified in recent years: net inflows of foreign nationals reached 330,000 people in 2018 according to the migration statistics of the National Statistics Institute. The following are the main conclusions.