The unemployment figures published today have been praised in some regions mainly by two headlines: unemployment has dropped below 3 million for the first time since March 2008 and Spain has broken the 20 million barrier employed in seasonally adjusted terms. . Although the data is relatively definite, there are some figures that are not so positive.
First of all, it must be said that the signed contracts reflect our economic weakness. Their numbers are 20% below pre-pandemic levels, and 82% are temporary: permanent, part-time or permanent closure.
On the other hand, the variation in unemployment and job creation has a very relevant cyclical component (66% concentrated in the tourism sectors), and shows signs of the end of the cycle, as it is below the last period average. economic expansion.
If we look at it in context, the number of jobs created is also not good. In the month of May, 213,000 new jobs were created, which is same as last year and lower than the average for the year 2015-19 (216,000). From February 2020 to April 2022, one in three jobs is public.
If we compare the figures for November 2008, as done, it is verified that the current equivalent unemployment rate is 13.5 per cent compared to 11.4 per cent, and the number of unemployed, including ERTE workers, is 3.15 million compared to 2.6 million. Is. that time.
As you can see, there is some data that may seem positive at first glance, but all that shines is not gold. If we want Spaniards to have more job opportunities, we must continue to work.
Unemployment Figures: Does Gold Shine?