With more than one record included, the labor market survives fears of a slowdown. Both employment and the unemployment rate improved in the second quarter thanks to summer hiring and the factor of Easter, which was in April. It is achieved, however, by devoting itself almost entirely to services and tourism to maintain momentum.
This is the picture drawn by the Active Population Survey (EPA) that was presented yesterday. Between April and June, 603,900 jobs were created, a figure never seen in the historical series, which dates back to 2002. The employed reach 21.05 million, which breaks the long-awaited barrier of 21 million per first time. In turn, unemployment fell by 365,300 people, to 2.7 million in total. This reduces the unemployment rate by 1.7 points, to 11.6%, the lowest since 2008. These are "extraordinary data that demonstrate the strength of our economy", highlighted the acting president of the central government, Pedro Sánchez, in social networks.
In a few months already marked by recruitment for the summer, the employment created is almost all in the service sector - tourism, restaurants, leisure, etc. -, with 606,000 more jobs. Of the latter, 270,900 are attributed to the hospitality industry, divided between food, beverage and accommodation services. On the other hand, construction adds 60,900 employees, another sector that sets the stage. After dodging the covid crisis, employment, like the economy, is once again looking towards the tourism sector.
A sign of the health of the market is that the majority of employment comes from private companies. There are 610,100 new sites in the private sector, while the public destroys 6,200. In addition, after the labor reform, the bulk are permanent: 81% of the new employees are permanent. According to the employers' association CEOE, "it confirms the efforts of companies to maintain and generate new jobs". The organization affirms that the wage increase agreement agreed with the unions "has created a framework of stability and reduction of uncertainty that favors job creation". The self-employed add 97,300 positions to their ranks.
Despite the positive outlook, there are dark spots. Especially for industry, which destroyed 64,500 jobs dragged by manufacturing. "The data from the EPA are quite positive, they surprise favorably. But in the industry they are bad", analyzes María Jesús Fernández, senior economist at Funcas. It is the third consecutive quarter of declines. Agriculture does not stand out either, with 1,500 new jobs, within the trend in second quarters. The hours worked also raise doubts. As on previous occasions, there is a decoupling and they are not growing at the same speed as employment, warned Javier Blasco de Luna, director of The Adecco Group.
The active population does not leave much room for questions and reaches maximums, with 23.8 million people. They are those who work or are willing to work. It happens because "the market attracts more and more people", assured Gonzalo García Andrés, Secretary of State for Economy. From Funcas they detail that the foreign population "is growing at a very intense rate, with an interannual growth rate of 10% in employment for 1.8% among Spaniards. These are the highest rates since the financial crisis".
As is customary in these months, the most attractive autonomies for tourism lead the creation of jobs. Catalonia (132,700 more workers) and the Balearic Islands (108,100) break the barrier of 100,000 jobs created. Madrid continues with 77,300, and Andalusia, with 52,600, in a generalized tonic, since employment is progressing in all communities, except Ceuta. In terms of unemployment, the same: Catalonia, with 70,400 people, the Balearic Islands, with 68,800, and Madrid, with almost 50,000, lead the declines. Tourism sets a trend: in the Balearic Islands, unemployment falls by 58% from one quarter to another in the most active time of the year. In Catalonia, unemployment falls to 8.4%, the lowest figure in 15 years. It continues to be high and slows down competitiveness, stated Josep Ginesta, general secretary of Pimec.
The unions celebrated the data, but asked to solve the "high" partiality and long-term unemployment, since 40.4% of the unemployed have been looking for work for a year or more, the UGT reported. "A country can never resign itself to having an unemployment rate of 11.6%," said Unai Sordo, secretary general of CC.OO.
The challenge is to extend the trend until the end of the year. The registered unemployment and monthly membership data already showed a brake in June, the last reference. It is moving forward, but less so. In the second half of the year, the restrictive policy of the European Central Bank (ECB), with the rates, "will have the maximum effect" on families, Funcas comments, and the arrival of tourists and their spending will have touched ceiling It would leave less room to continue growing, "with a slowdown that will have an impact on employment".
