Sat. Jul 20th, 2019

Employment recovers in February with almost 70,000 more affiliates | Economy

Social Security ends the year with more than 19 million employed for the first time since 2007 | Economy

In February came the rebound effect. After the great fall of January, in February the job recovered somewhat. Measured with Social Security affiliation, the number of contributors working increased by 69,172 people, bringing the total number to almost 18.9 million affiliates. Registered unemployment, meanwhile, increased by 3,279 registered unemployed in public offices, according to figures released Monday by the Ministry of Labor and Social Security.

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February is usually a good month for employment. The increase in membership is lower than in 2017 and 2018, but higher than 2016. Since Spain emerged from the recession in 2013, the number of contributors has grown every year. Less clear is the behavior of registered unemployment. In the last five years it has gone up and down. However, the data for 2019 is the worst since 2013, when it increased by almost 60,000 people.


In millions of people

Ministry of Labor.

Apparently, there is a discrepancy between the figures of Social Security, which improve, and those of registered unemployment, which worsen. However, both data do not have to always have a measured behavior. Unemployment not only depends on whether there is more or less work, but also on how the active population evolves. This can cause that although it is created employment, it is not created the sufficient thing so that unemployment decreases if more people demand it.

The affiliation gain was fairly distributed among the different branches of activity. Construction and education gained more than 20,000 members each, and hospitality was close (19,694). The manufacturing industry also increased its workforce by 12,793 jobs.


In millions

Ministry of Labor.

When comparing the figures of February of this year with those of the previous year, it is clear that the recovery slows down compared to other years. The 524,958 jobs created in 12 months represent an annual increase of 2.86%. Being data quite good - creating more than half a million jobs a year is - is a lower rate of improvement than has been maintained in recent months.

The second month of the year is one of the best, something that happens when the tourist season begins to prepare, in March or April, according to when the calendar that falls during Holy Week determines.


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