The labor market continues on the positive path for another month, according to data released today by the Ministry of Labor and Social Security. The month of August does not usually provide good employment figures – the end of seasonal contracts linked to the tourism sector is the cause – but August 2021 came out of the scenario, with an increase in the workforce, in adjusted terms for the seasonal variations, 76,541 workers and a drop in registered unemployment of 82,583 people compared to last July.
These figures are explained by the peculiarities of this year’s tourism campaign, which was longer (due to the lower presence of foreign visitors) and more hesitant (due to the limitations that still apply to the hotel industry- catering in many areas).
Thus, the InfoJobs job portal recorded 55% of vacancies in tourism and catering from May to July compared to the same months of 2019, taking as a reference the last year before the pandemic. But the difference was diminishing over the months and in August it should only be 30% lower than in August 2019.
Therefore, the job offer for this industry was lower than in 2019, but it increased as companies saw business opportunities and detected staffing needs, which helped August show this behavior. abnormal in relation to employment.
All of this leads to a scenario that invites optimism, albeit with some nuances. The 19,473,724 affiliates registered, on average, by Social Security last month are 0.6% less than those of July, but 0.8% more than the 19,320,227 of the same month of July 2019. The latest tranche of the year could define the real job creation capacity of the Spanish economy once the first objective, that of resuming pre-pandemic levels, can be considered as achieved and consolidated.