The unem­ploy­ment rate in Spain could rise to 20% in 2020

Temporary Layoffs Gradually Lifted In Spain: 1.56 M Workers Have Taken Up Their Jobs, 1.8 M Still On Hold

Spain, Unemployment Office.
Spain, Unemployment Office.

POSTED BY: THE CORNER 2ND JULY 2020. The re­co­very in em­ploy­ment in Spain is pro­ving to be a struggle at best, and a mi­rage at worst. The data shows that the trend in unem­ploy­ment growth is slo­wing: the number of unem­ployed in June rose by 5,100 people com­pared to 26,573 the pre­vious month, 282,891 in April and 302,265 people in March. However, this month of June was the worst since 2008, when a rise of 36,800 were re­cor­ded. The cu­rrent number of unem­ployed to­tals 3.862.880, the hig­hest on re­cord since May 2016.

The Bank of Spain forecasts the unemployment rate will rise from 14.4% in the first quarter, when the virus had an impact on the last two weeks of that period, to 20%. This means the number of unemployed will far exceed four million.

The number of workers affiliated to the Social Security on the last day of June was 18,484,270, which means a decrease of 99,906 people since the beginning of the month. The Social Security attributes this trend to the cancellations produced on the last day (161,500).

The unemployment figure for June, as was the case in March, April and May, does not include workers who are suspended from work or whose hours have been reduced as a result of an temporary employment regulation file (ERTE). This is because the definition of registered unemployment does not count these people as unemployed. In this regard, the glass is also half full and half empty. A total of 1.17 million people ceased to be covered by an ERTE during the month of June. This leaves 1.8 million workers with their contract still totally or partially suspended. Overall, since 30 April, 1.56 million workers have exited the ERTE situation.

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