April 2, 2021
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March saw an addition of 916,000 jobs to nonfarm payroll and a drop in the unemployment rate by 0.2pp to 6.0%. This high uptick in the employment situation was brought about by a successful vaccination campaign, the ongoing reopening of the economy and massive fiscal support.
The economy of the Canary Islands may have shrunk by 15.0% in 2020, and might grow 8.1% in 2021 and 9.6% in 2022. Public policies softened the impact of COVID-19. Consumption, investment and tourism will push the economy through 2021. With risks, the situation should be getting back to normal by 2022.
The economy of Castille-La Mancha may have shrunk by 9.0% in 2020, and might grow 4.4% in 2021 and 6.2% in 2022. Public policies softened the impact of COVID-19. Consumption and investment will push the economy through 2021. With risks, the situation should be getting back to normal by 2022.
Social Security affiliation and unemployment rose in February (by 20,600 and 44,400 respectively). Seasonally adjusted, employment fell by 5,000 and unemployment rose by 13,000. The recovery came to a halt with 1,261,000 employed with limited activity and 890,000 fewer jobs than in the absence of COVID-19.
February 22, 2021
Mexico | Weak recovery of formal employment with strong adjustment in wage distribution
Job creation is off to a slow start in 2021. Despite having positive job creation in January is insufficient given the loss of jobs that occurred since the start of the pandemic, which maintains a gap of 792 thousand jobs less compared to February 2020.
Social security affiliation fell by 219,000 in January and unemployment rose by 76,200. Adjusted for negative seasonality, employment rose by 32,000 and unemployment dropped by 24,000. However, the number of workers covered by an ERTE and the self-employed with benefits increased by 70,130 compared with the end of 2020
The economy of Navarre may shrink by 10.6% this year, and grow 6.0% in 2021, losing 3,000 jobs. The impact of the crisis was heterogeneous by sectors, counties and personal characteristics. Public policies allow to lower job losses, but risks push the perspectives downward.
December 4, 2020
U.S. | The labor market loses momentum, confirming the need for additional stimulus
Nonfarm payrolls rose by 245K in November, down from 610K in October and lower than market expectations (432K). Meanwhile, the unemployment rate edged down to 6.7% from 6.9% in October. November’s employment figures suggest that the labor market is losing momentum as the pandemic worsens, and fiscal support wanes down.