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Social Security affiliarion rose by 70,800 in March and unemployment fell by 59,100. Seasonally adjusted, employment fell by 8,000 and unemployment by 20,000. In Q1, job creation moderated (0.2% q/q q/q CVEC) and unemployment rose (0.5%). There were still 1,184,000 workers with limited activity
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.
Short-term uncertainties have not changed the expectation that 2021 will be a year of recovery in which the Spanish economy, the Eurozone and the United States will see improvements.
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
26,400 jobs were created in December (16,000 swda) and unemployment rose by 36,800 (46,000 swda). In Q4, affiliation slowed down (1.1% t/t CVEC) and unemployment stagnated. The impact of the crisis is remarkable: -830,000 jobs and 800,000 unemployed.
Although we are still managing the health crisis with its continuous trickle of infections and deaths, the approval of vaccines against COVID-19 and their expected deployment over the coming months is an important ray of hope for our societies.
December 24, 2020
Spain | Not just the hospitality sector: other sectors affected by the COVID-19 crisis
BBVA Research has used decision trees to show that the difference in the Spanish provinces' productive structure was one of the fundamental determining factors in explaining the initial decrease in employment caused by the national lockdown.
Affiliation increased by 31,600, but did not prevent an upsurge in unemployment (25,300). Discounting negative seasonality, employment grew by 81,000, 24,000 more than in October, while unemployment stopped its downward trend (7,000). The impact of the crisis is still substantial: -790,000 affiliates and 760,000 unemployed.