Adecco analyzes unemployment data: “6 out of 10 jobs lost have already been recovered, but it is still necessary to implement more active employment policies to encourage hiring”
On Wednesday, unemployment data for the last month of November 2020 was released, which again results in a slight increase in the number of Social Security affiliates. These data can be found in the 19.02 million social security affiliates as of November. This is the highest figure since February (before the start of the global pandemic) although it implies a drop of 354,900 jobs over the last twelve months (-1.8% over one year). The decline in the number of affiliates continues to ease. The annual decline of 1.8% is the most moderate in the number of affiliates over the past eight months.
As for the number of registered unemployed, it stands at 3,851,312. The increase from one year to the next was 653,100 unemployed (+ 20.4%), and with that, there have already been eight consecutive months with unemployment increases of over 20% year over year, which has not happened since 2010.
Javier Blasco, director of the Adecco Group Institute, says that, according to the data, “6 out of 10 jobs lost since the start of the pandemic have already been recovered, but the November figures still reflect the slowdown in activity after the third trimester less hard. Nevertheless, all efforts must be focused on the maintenance and recovery of the productive economy. Helping businesses and employers to survive and be able to restart as soon as possible is essential to maintaining the organizational capital and jobs necessary for the recovery. Investment and employment will depend on production capacity, and consumption and contributions depend on it to support public budgets that allow meeting current and future health and social needs with guarantees ”.
“Public-private collaboration is essential to promote active employment policies, in particular those which make the labor market more flexible and promote hiring, social dialogue and collective bargaining which contribute to this flexibility as a guarantee of employment, minimize taxes and contributions from employers, businesses and self-employed. Likewise, it is necessary to promote the training and retraining of workers, in particular the most vulnerable groups, young people, the long-term unemployed, the over 55s, women and people with different abilities, ”adds Blasco.
As the Ministry of Labor has already announced, the number of registered unemployed in November is 3,851,312, which represents an annual increase of 653,128 unemployed (+ 20.4%), which has increased for eight consecutive months. one-year unemployment rate above 20%, which has not happened since 2010.
Regarding affiliations, the average number of Social Security affiliates is 19.02 million people (the highest figure since last February, before the outbreak of the pandemic). This figure implies a reduction of 354,900 jobs over the last twelve months (-1.8% over one year).
For the sixth month in a row, services are once again the sector in which membership numbers fall the most, although now only a hundredth of a difference compared to industry. The decline in employment was 2.1% year over year (313,400 fewer jobs), the smoothest change in eight months.
During the month of November, 1.45 million contracts were signed (-17.8%). Permanent contracts fell more sharply (-25.3% over one year) than temporary contracts (-17%).
In addition, unemployment among those under 25 increased by 37.7% over one year, more than double that of those over this age (+ 18.9%).