January 12, 2022
Employment latest publications
In November, the national unemployment rate in its original series stood at 10.8% and the urban rate at 12.2%, lower than the same month in 2020, but still higher than in 2019. The national unemployment rate, seasonally adjusted, decreased, with respect to October, as did employment and the labor force.
January 3, 2022
Mexico | Does 1 in 5 pesos of remittances come from Mexicans in the construction sector?
In November, remittances to Mexico grew 37.7%. In 2021, the Mexican migrants in the United States grew to 11.9 million, 1 in 5 are employed in the construction sector. Several countries in Latin America and the Caribbean have also reported significant increases in their income from remittances.
In October, the national unemployment rate was 11.8% and the urban unemployment rate was 12.3%, lower by 2.9 and 4.4 percentage points, respectively, than in October of last year. As expected, these rates are still higher, by about 2 percentage points, than those observed in the same month of 2019.
Though 2022 should be a better year for GDP growth in the Spanish economy than 2021, the current outlook is also far more uncertain than it was a year ago, due to the appearance of new risks and an increase in existing ones — making forecasts even more volatile.
The GDP of Andalusia could grow by 5.5% in 2021 but with a downward bias due to the advance estimate of the Quarterly Accounts. In 2022, regional GDP growth could reach 5.2%. If the forecasts are met, Andalusia would create, on average for the year, some 200,000 new jobs between 2020 and 2022.
Social security affiliation increased by 159.500 and unemployment practically stagnated. Excluding seasonal factors, BBVA Research estimates that employment increased by 74.000 and unemployment fell by 62.000. Workers with limited activity decreased to 285.000.
Pay-as-you-go pension schemes—a basic pillar of wellbeing in Europe—are viable and sustainable, as long as the necessary measures are taken to adapt them to economic, social and demographic changes experienced by European countries.
October 28, 2021
Spain| LFS Employment nears pre-crisis level in 3Q21, but unemployment rate remains higher
Job creation rebounded in 3Q21 (1.3% QoQ SWDA; 4.5% YoY) and the number of workers on ERTE or partial unemployment fell to 95,200. The labour force increased strongly after the end of the restrictions, which limited the improvement in the unemployment rate (14.6%)