Friday, January 21

The November strike reveals the sectors that are left behind

The unemployment data for November reveal the inequality by sectors of the Spanish recovery. The employment figure drew the attention of the sources consulted, especially because it occurred when household consumption has not taken off and when the government’s forecasts suffer reduction after reduction by national and foreign organizations.

Thus, according to data provided by the Ministry of Social Security and Migration, membership grew by 109,451 workers compared to the previous month (0.56 percent more), the largest increase in seasonally adjusted terms of the series in a month of November.

Thus, seven consecutive months of increases are accumulated, which add up to a total of 751,988 employed persons in the system.

But it is that the average affiliation to Social Security increased 3.8 percent year-on-year in November and has already been growing for eight months at rates above 3 percent.

Services, but it is industry and construction that stand out in the increases

So, what are the sectors that sustain this dynamism in the labor market?

The largest increases have been increases in Services (91,989), a fact that is paradoxical since November is traditionally bad because it coincides with the lowest season.

This is due to the fact that employers foresee that vaccination, which in Spain is more advanced than other countries, will continue to favor the reopening of activities that last year had numerous restrictions.

Thus, membership growth in relative terms has grown within the Services sector in accommodation services (4.90 percent), employment-related activities (4.90 percent), creative, artistic and entertainment activities (3, 57 percent) and sports, artistic and entertainment activities (3.29 percent).

But it is Food and beverage services, with 30,129 more workers, the activity that has had the greatest increase in absolute terms.

It is also curious that the second largest increase occurs in the industry, still hit by the bottlenecks that are occurring in the supply of raw materials.

This increase has been 9,460 new affiliates, but it is the case that it has grown in every month since June 2020.

Construction is also another sector that is accelerating and it shows in employment, with 6,753 new members. It has been growing since May of this year.

Workers at ERTE continue to decline

The number of workers covered by a temporary employment regulation file (ERTE) continued to decline with the application of the new regulation, going from 165,624 in October to 125,632 at the beginning of December.

As explained by the Ministry of Inclusion, these data, which show the departure of 39,992 workers from an ERTE, are provisional, since the companies will be able to communicate the variations registered throughout December.

Registered unemployment also falls

This increase in job creation also has effects on registered unemployment.

Thus, in November has concluded with a fall of 74,381 (-2.28 percent) of the people registered less in the offices of the State Public Employment Service (SEPE).

The total number of unemployed reaches 3,182,687 people, the lowest figure in a month of November since 2008. It also reduces pre-pandemic levels: in November there are 63,360 fewer people registered as unemployed than in February 2020.

And he’s already scored nine months in a row going down, a record to date.

To find The explanation is to take a look at the Spanish GDP data.

Although it is true that the Spanish economy is losing traction (international and national organizations have lowered their estimates for next year and for this year) it is still doing so at percentages that allow job creation.

Thus, Spain’s GDP grew by 2.7 percent in the third quarter, but in the second quarter it grew by 17.5 percent year-on-year (although it is true that in absolute terms they cannot be compared since in 2020 the economy), has been enough to reduce unemployment.

It is possible that as growth moderates, the rate of decline in unemployment will as well.