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  • 'Economic hibernation'. The coronavirus crisis destroys 833,979 jobs in March and suspends another 620,000 workers affected by ERTEs
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Monday March 16 will go down in history for being the day the Official State Gazette (BOE) published the statement of "state of alarm for the management of the health crisis situation caused by Covid-19" but, also, for being a black day for the labor market in which more than 180,000 jobs were destroyed .

The evolution was as follows: on that day Social Security registered 128,073 discharges for 310,703 discharges, resulting in exactly 182,630 fewer jobs. It is as if, in just a few hours, all the citizens residing in Getafe were fired . And if the workers who lost their jobs that day formed a city, they would add a larger population than that of capitals such as Santander, Burgos, Huelva or Badajoz.

The extraordinarily negative data published yesterday by the Ministry of Social Security show this avalanche of affiliate losses, even higher than the 127,500 on March 31. The evolution of affiliation in the last days of the month is usually conditioned by the termination of temporary contracts, but even so, it fell far short of a figure that was recorded during a Monday and mid-month .

In this analysis, however, it should also be taken into account that by that day the Government had already introduced the prohibition of dismissal for causes related to the coronavirus crisis. Specifically, the measure was effective on Monday, March 30, a day in which almost 50,000 jobs were destroyed and that if they are added to the figure indicated on Tuesday, March 31, they yield a total of 177,000 fewer jobs, which suggests it was certainly successful. limited in achieving the objectives it was pursuing when intervening in the labor market .

750,000 more in April?

For the month as a whole, March closed with a loss of 833,979 jobs, a figure that does not include the figures from the temporary employment regulation files (ERTE) and which will be close to repeating the next ones. This is at least estimated by Funcas, who foresees that an additional loss of 750,000 jobs will be registered in April.

"Regarding what can be expected for the month of April, conservatively assuming a daily loss of about 15,000 members (well below the average daily loss that occurred in the second half of March), the decrease in membership could reaching 750,000 in the monthly average. Compared to March 12, the loss of employment at the end of April would be 1.2 million, "they point out from the Savings Banks Foundation.

For its part, the BBVA studies service maintains that Spain suffered in March "an unprecedented deterioration in the labor market", with a destruction of employment that "was concentrated in the second half of the month, coinciding with the start of the state of alarm " "When the figures for seasonal variations and the calendar effect (CVEC) are corrected, BBVA Research estimates indicate that the average number of contributors would have decreased by around 424,000 people, representing the largest monthly drop recorded to date " , argue from the entity.

According to the criteria of The Trust Project

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