A few days ago, they made themselves known Unemployment data for last August. The number of affiliates to Social Security continues its process of moderation in its growth, thus in the month of August there were 20.15 million affiliates. In year-on-year terms, the increase moderated to 3.5%, the softest in eleven months, equivalent to 677,300 new jobs in the last 12 months.
As soon as to the number of registered unemployed, is 2.92 million people, 40,428 more than the previous month (+1.4%). In year-on-year terms, the decrease was 12.3%, the lowest in thirteen months.
In the words of Javier Blasco, director of the Adecco Group Institute: “The month of August confirms the slowdown in the economy, and the employment and unemployment figures, although they are within the usual in recent years, show the slowdown that is already affecting the entire European Union”.
“The bad numbers are accompanied of the largest drop in indefinite contractsthe high rotation of the discontinuous fixed, and the multiplier effect of the crisis in the employment of young people”, says the director of the Adecco Group Institute.
Lastly, Javier Blasco proposes a future scenario in which “The most usual thing is that in September there is a very small increase in membership, relative to the previous month. Hence, the year-on-year rise could moderate more, up to 3.3%, with 20.17 million employed. Unemployment, which tends to rise slightly in September compared to August, would add 2.93 million people (-9.8% year-on-year)”.
Highlights
As the Ministry of Labor has already announced, the number of registered unemployed in August is 2,924,240 people, 40,428 more than the previous month. The drop in the number of unemployed also continues to moderate. In year-on-year terms, the decrease was 12.3%, the lowest in thirteen months.
If we break down this data by sex, unemployment continues to fall more among men (-13.8%; that of women fell by 11.2%).
As soon as to affiliation to Social Security, its growth moderation process continues, thus in August there were 20.15 million affiliates, 189,963 affiliates less than a month ago (-0.9%). In year-on-year terms, the increase moderated to 3.5%, the softest in eleven months, equivalent to 677,300 new jobs in the last 12 months.
The services they again lead the increase in employment; on the other hand the agricultural sector destroyed employment for the 13th consecutive month. Salaried employment (+4.1% year-on-year) grew 10 times faster than non-salaried employment (+0.4%).
The signing of fixed-discontinuous contracts fell for the second consecutive time, since the latest changes in labor law. In August they were 13.2% of the total contracts signed, compared to 14.6% in July and 16.5% in June.
It’s been three months since the total number of signed contracts falls: -8.8% year-on-year in August. The entire fall is explained by the lower signing of temporary contracts, which fell by 39.7%. On the other hand, the signing of indefinite contracts grew by 326% year-on-year, due to the effect of fixed-discontinuous contracts. In total, 1.28 million contracts were signed, the lowest number since February 2021.
