The Government anticipates a good start to the year for employment after a black December with 25,000 new jobs in the last 30 days

• Employment increases by 12,640 people in Spain in the worst month of December since 2012

The

has advanced this Tuesday that

in terms of

creation , since in the thirty days that go from December 15 to January 15 the country has been able to create

due to the economic cycle.

In other words, if all the months of the year were exactly the same in terms of employment and there were no peaks and valleys as a result of the activity (for example, more hiring in the hotel industry during the holiday season or more incorporations in commerce due to sales), This

would allow us to know

for the labor market -and not because of those circumstances- and which are not and, in this case,

, since the country would have managed to create 25,000 jobs.

Bearing in mind that the year is made up of 365 days, if that number of jobs have been created in 30 days, this would indicate that

if this momentum in the labor market is maintained, a very positive figure, which allows us to deduce that the beginning of the year has been good for the labor market.

It is to be expected, however, that this momentum will relax as the year progresses and that

, as it will be in GDP growth.

There is no established level

of job creation in seasonally adjusted terms

since that

.

In a time of economic slowdown, it could be said that simply creating jobs in seasonally adjusted terms would already be a positive fact, although it must be contextualized with the evolution of GDP.

"

than the average observed in December of the previous two fortnights (November 15 to December 15), in which there was an increase of 7,357 affiliates", explains the Ministry of Social Security in a note released this Tuesday, in which it details that they have approved a

to find out how the labor market is evolving.

For a year and a half and until November 2022, the Ministry gave a

in which it reported on how

of the month according to its seasonally adjusted model and, From that data,

.

Minister

presented this data in seasonally adjusted terms but made the translation to the original series, so that an estimate of real job creation could be known that would be published at the end of the month.

Now, however, that method has changed.

The Ministry's statistical team has designed

that allow it to know more accurately

eliminating the effect of seasonality and the calendar (the aforementioned peaks and valleys), and have opted to

and only communicate the true data.

Hence, in the middle of the month, they will report on the evolution of employment in the previous thirty calendar days.

Another novelty of the method, in addition to the inclusion of these factors, is that

that employment has followed

(2020, 2021 and 2022) is now taken into account, whose behavior had not been taken into account.

taken into account up to now due to the exceptional situation derived from the pandemic in the first two cases and in 2022 due to being incomplete to date.

The new method and the data known today allow us to observe that while

in terms of job creation, the summer was weaker and that even, had it not been for the activity of those months, jobs would have been lost. in the country.

Since September, employment has recovered, albeit slightly, so that

with around

This means that while

(

of the jobs created in the year), the second half of the year ended with the net incorporation of some

(

of the total jobs created in 2022).

200,000 fewer jobs at the end of the month

Given the slowdown that the labor market experienced in the second part of the year and also in December, it was important to see how 2023 started and, in this sense,

because January has started with a rebound in job creation and generation of new positions, beyond those that are traditionally created in this month.

We will have to wait until the first days of February to find out

in original terms, that is, the real number of the difference between registrations and cancellations to Social Security.

This is

to report on how the labor market is evolving and, since a January cannot be compared with an April, the comparison with previous Januarys has always been used to find out how good the January has been. current year.

According to these data,

has always been a month of job destruction and, between 2010 and 2020 (the last January before the pandemic)

.

In 2021, 218,953 were destroyed and in 2022, 197,759, with which this pattern has been maintained, hence it is to be expected that the loss of jobs in the original series

If that happens and January closes with around 200,000 fewer jobs,

-whether the economy grows or not, due to the seasonal nature of the labor market- and if, in addition , in seasonally adjusted terms the month closes with the creation of jobs, it can be deduced that the start of the year has been good.

The original series - which will include this loss of positions -

who defends that the

that occur each year

prevent comparisons of such long periods.

For example, it is possible that now in November business contracts will increase due to the increase in sales that occurs on Black Friday, a phenomenon that did not exist a few years ago, which makes it meaningless, in his opinion, to compare the employment in a November today with that of a November many years ago when this phenomenon did not yet exist.

According to the criteria of The Trust Project

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• Social Security

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• Jose Luis Escriva

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