The formula is repeated month after month: Spain breaks a new employment record. The just-ended month of May leaves a historic high, with more than 21.3 million people working, after adding 220,000 more compared to the last 30 days. Meanwhile, unemployment has seen a general drop of 58,650 people and the number of unemployed stands at 2.6 million, the lowest number recorded in May since 2008, the year that marked the beginning of the financial crisis.
Specifically, Social Security added 220,289 more affiliates in May, for a total of 21,321,794. The figure continues the good trend of job creation, with more than half a million working people, 2.4%, more than a year ago. The ministry headed by Elma Saiz thus boasts of the “superior dynamism” of the Spanish labor market, which has registered an increase of 9% compared to before the pandemic, compared to 5.2% in France or 1.4% in Germany. .
Daily membership has been above 21.3 million members between May 13 and 30, reaching more than 21.4 million on the 27th. Furthermore, the Ministry of Inclusion, Social Security and Migration highlights that Every day of the month, more than 10 million women members have registered, 47.4% of the total.
May is a good month when it comes to job creation and, specifically, this has been the best since the year of the pandemic. Historically, the arrival of good weather and hiring for the summer usually encourage affiliations. In fact, this year, the bulk of the 220,289 new members are part of the hospitality sector, with 77,913 new registrations; followed by the branches of administrative activities and auxiliary services, with 22,207.
If the seasonally adjusted employment data is taken as a reference, the one used by the ministry to follow the evolution without the effects of the calendar, the figures would have been somewhat lower than those indicated by the average affiliation data. Specifically, Social Security would have registered 21.1 million affiliates, with an increase of 62,505 employees in the last month and a year-on-year variation of 497,426 people, which would represent “49 months of uninterrupted growth.”
Almost 60,000 fewer unemployed
And if employment goes up, unemployment goes down. According to data provided by the Ministry of Labor and Social Economy, last month it decreased by 58,650 people compared to the previous month and by 131,260 if last May is taken as a reference. In total, there were 2,607,850 people registered at public employment offices, the lowest figure since 2008, the year the ravages of the financial crisis began to be felt.
If you go into detail, the data leaves good feelings on several fronts. Youth unemployment drops to 179,075 people, the lowest in the historical series, and female unemployment drops by 31,954 women, with May being the lowest level since 2008, according to the Ministry of Labor.
By sectors, the decrease compared to the month of April is general, although much more notable in services. In this section, registered unemployment falls by 44,467 people; in construction, in 3,867; in industry, in 3,715; and in agriculture, in 2,249. In addition, 4,352 people who had not had a job before have found work.
The great change that the labor reform has marked can be seen, especially, in the type of hiring. Of the 1.3 million contracts registered in major, 43% are indefinite, according to Labor. The data is slightly lower than those obtained in 2022 and 2023, but multiplies by four those registered before the entry into force of the new legislation, with rates that barely exceeded 10%.
By province, those that have registered the largest increases in Social Security affiliations in May compared to the same month of the previous year have been Madrid, with 3.8% more affiliated people; Canary Islands, with 3.5%; and the Balearic Islands, with 3.4% more; Málaga, with an increase of 3.1%; and Valencia and Tarragona, with 3% more. Cuenca (0.5% less), Ciudad Real (0.4%) and Cáceres (0.3%) appear negative.
Source: www.eldiario.es
