The 'effective' unemployment grows by 300,000 people after the labor reform to 3.5 million
The bleeding of commerce that began in 2022 accelerates with the closure of more than 215 stores a day this year
Social Security affiliation
-the number of active workers-
grew in February by 88,918 people
, the largest increase for the second month of 2015, while
registered unemployment
in the offices of the State Public Employment Service
barely increased by 2,618 people .
However, youth employment developments
were
substantially worse last month.
According to the data published this Thursday by the Ministries of Social Security and Labor,
registered unemployment
only increased in February among
young people under 25 years of age
, since
11,862
of them signed up for the SEPE lists, with which the total number of them unemployed grew by
5.8%
compared to January;
while in the group of workers
over that age, unemployment fell by 9,244 people.
The sum of both makes the net balance of 2,618 workers, in line with the increase in unemployment that was experienced in February 2019 (3,279).
Of those almost 12,000 young people who want to work in Spain but cannot find a job,
the vast majority (10,139) have not worked before,
which means that they want to enter the labor market for the first time,
have no experience and cannot find a job. .
The increase in this group is produced, on the one hand, by a
demographic
effect , since the active population of that age has increased because children born during the time of the housing bubble are now incorporated into the labor market, which were more than the good economic situation in the country.
On the other hand, and as some experts had warned,
the increase in the Minimum Interprofessional Wage (SMI) to 1,080 euros per month,
approved last month and with retroactive effect from January 1, may have been a
barrier to entry into the world of work.
for young people without experience, something that could have contributed to this strong increase.
At the end of February,
registered unemployment
in Spain stood at
2.911 million people,
although economists from
Fedea
and
BBVA Research
have already warned on several occasions that the real number of people who are without work and receiving unemployment benefits or subsidies is very superior.
With the data for January, in Spain there were 3.56 'effective' unemployed, which implies that there are some
625,000 unemployed who do not appear in the statistics.
Business continues to suffer
Regarding Social Security affiliation -the most reliable data to know the evolution of the labor market-, the number of registered workers amounts to
20.17 million
and the increase in affiliates in February is the highest in eight years for this month.
Almost all sectors behaved well in February, with the exception of
commerce
, where the bloodletting that this media outlet warned about is accelerating and
11,781 wage earners were lost in a single month;
health
activities
, which in full mobilizations lost 9,934 workers;
and administrative activities and auxiliary services, with a net loss of 3,174 employees.
These last two groups are greatly affected by the aging of the workforce and because the coverage of vacant positions due to retirement slows down the net gain of workers.
Job losses were similar at the sectoral level among the
self-employed
.
This group
gained 3,448 registrations in net terms in February
-adding those that open and those that close-, but
commerce
was the big loser for another month with the
net loss of 1,317
self-employed workers in a single month
(109 per month).
day).
The
agricultural sector
was the second major loser of the month.
The number of affiliates of those who are attached to the special regime fell by 15,668 people, while for the self-employed it was the second sector with the greatest destruction, as 275 companies with agricultural activities were lost.
Good performance of employment in February
Except for the
difficulties
that the Spanish productive fabric has
to incorporate young people
without experience and except for the
circumstances of commerce
-especially small ones, which suffer from a structural problem of competition with large stores-,
the labor market behaved relatively well in February
, with a high net job creation -the highest since 2015-.
The same interpretation is offered by the
seasonally adjusted data
published by the Ministry of
José Luis Escrivá
and which allow job creation to be compared for any month of the year with each other, since the data is filtered to ignore the ups and downs experienced by the labor market for reasons seasonal.
According to this series,
employment in Spain grew by 81,808 workers,
an increase higher than that experienced in recent months, which seems to point to a
dynamism
in the labor market despite
inflation
- which continues without respite and in February has located at 6.1%, once again taking up the upward path - and of uncertainty.
According to the criteria of The Trust Project
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