Adecco values unemployment data: “All efforts must be focused on maintaining and recovering the productive economy and favoring companies and employers to survive and restart their activity”
Unemployment data for October 2020 have just been published, this time leading to a slight increase in the number of Social Security affiliates. These data can be found in the 18,990,364 affiliated with Social Security in October. This is the highest figure since March, although it implies a decline of 439,600 jobs in the last twelve months (-2.3% year-on-year). The decrease, while significant, is, together with the previous month, the most moderate year-over-year decrease in the number of subsidiaries over the past seven months.
Regarding the number of registered unemployed, this amounts to 3,826,043. The year-over-year increase was 648,400 unemployed (+ 20.4%), which is the lowest of last seven months.
Javier Blasco, director of the Adecco Group Institute, affirms that “the strong rebound in activity in the third quarter gives us an October with a slight growth in social security affiliation, although unemployment already exceeds 3, 8 million workers and permanent contracts are already decreasing more than temporary contracts ”.
The tightening of measures to fight the pandemic in several autonomous regions increases uncertainty about what could be the evolution of the labor market in November. In principle, results of general appearance similar to this month are expected, with 18.9 million affiliates (-2.4% year on year) and 3.8 million unemployed (+ 20.2%) .
The director of the Adecco group institute assures us that: “in a scenario where uncertainty is marked by the second wave of infections, the new state of alarm and increasing restrictions in neighboring countries, the growth forecasts of the economy and employment depend more than ever on aid from the European Union, which takes the form of investments promoting activity and employment, and the “brake” effect that the recovery of the rest of the countries of the Union has on our activity ”.
In addition, according to Blasco, “all efforts must be focused on maintaining and recovering the productive economy. Enabling businesses and employers to survive and 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 ”.
And, finally, it is urgent to “promote active employment policies and 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. Promote the training and re-qualification of workers, in particular the most vulnerable groups, young people, the long-term unemployed, over 55, women and people with different abilities, ”explains Javier Blasco.
As the Labor Ministry announced earlier today, the number of registered unemployed last month is 3,826,043 people. Thus, the increase from one year to the next was 648,400 unemployed (+ 20.4%), the lowest for the last seven months.
Regarding affiliation, the number of Social Security affiliates is 18,990,364 people. This is the highest figure since March, although it implies a decline of 439,600 jobs in the last twelve months (-2.3% year-on-year).
For the fifth month in a row, Services was again the sector in which enrollments fell the most, with a 2.5% year-over-year decline (375,500 fewer jobs), although it is also the smoothest variation in seven months.
During the month of October, 1.55 million contracts were signed (-30.3%). Permanent contracts fell more sharply (-36% over one year, the highest every five months) than temporary contracts (-29.6%).
In addition, unemployment among those under 25 increased by 35.9% over one year, more than double that of those over this age (+ 19%).
Another figure that the Ministry of Labor released today is the number of employees in force majeure ERTEs, which stands at 497,300 employees.