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Spain| Historical drop in employment in 2Q, despite the ERTE & the positive figure in June

Published on Thursday, July 2, 2020

Spain| Historical drop in employment in 2Q, despite the ERTE & the positive figure in June

Social Security enrolment increased by 68,200 people (-4.6% p/a) in June and unemployment rose by 5,100 (28.1% p/a). Adjusted for seasonality, employment grew by 27,400 people, but unemployment continued to rise (80,900). In 2Q20, affiliation fell by 4.7 t/t CVEC and the number of unemployed rose by 18.8%.

Key points

  • Key points:
  • Después de tres meses con saldos negativos, la afiliación mejoró en junio. No obstante, el efecto agregado de la crisis de la COVID-19 es notable
  • La estacionalidad favorable impulsó el empleo temporal
  • Repercusiones de la COVID-19: 915.000 desempleados, 1.830.000 afectados por ERTE y 1.470.000 autónomos con prestación extraordinaria por cese de actividad en junio
  • 2T20: deterioro histórico de los registros del mercado laboral, a pesar de las políticas de protección al empleo ante la crisis

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