Employment latest publications
The labor market hit the brakes in August, probably driven by both demand and supply factors as a consumption demand slowdown along with increasing health concerns, both associated with the Delta variant, impacted the labor market.
Participation in the labor market practically recovered; the return to classes on-site will improve the recovery of labor participation. Formal job creation surprises in July; additional, the removal of outsourcing allows the recovery and exceeds permanent employment levels prior to the pandemic.
Employment in Spain fell by 4.4% between 2008 and 2019. The sectors that contributed most to the fall were those affected by technological change or which started the crisis oversized. In all of them, except finance, the share of capital income in GVA increased, while employment fell.
In 9 out of 10 households, there was a fall in labor income. The lag in the labor market's recovery prevails, with high levels of unemployment, underemployment and informality, and a slow creation of formal employment.
Despite the significant improvement in per capita income in Spain over the last few decades and the considerable resources the public sector has dedicated in trying to reduce the differences between the country's regions, the result in terms of regional convergence is not completely satisfactory.
Catalonia's GDP declined by 11.2% in 2020, and is expected to increase by 6.6% in 2021 and 7.2% in 2022. Consumption, investment, exports and tourism will drive the economy through 2021. The boost from EU funds will be most noticeable around 2022.
The approval of the "shared leave" contributes to the closer inclusion of fathers in the care of their children and to the improvement of women's working conditions. With the approved bill, the couple has the freedom to choose how to share the care of their children and allow men the privilege.
Social Security affiliates increased by 233,100 (165,700 SWDA) and unemployed fell by 166.000 (-57,300 SWDA). In Q2, job creation accelerated (1.1% QoQ SWDA) and unemployment returned to the downward path (-0.7%). There are still more than 600,000 workers with limited activity