Eight charts explaining the coronavirus blow on employment

Eight charts explaining the coronavirus blow on employment

Since the start of the state of alarm, Social Security has lost 900,000 members and unemployment has risen by 300,000 people
The impact of the coronavirus on employment is being devastating. In just 15 days, since the implementation of the state of alarm and the confinement of the population, 900,000 people have ceased to be affiliated with Social Security, an unprecedented number. Like the unemployed, which in March grew by more than 300,000 people, an unprecedented figure.

1. Monthly drop in employment. From the last day of February to the last day of March, there are 833,900 affiliates or contributors with less employment in Social Security. It is the worst number in this series. Normally the number of affiliates is used less throughout the month, but this time, given that the impact of the coronavirus arrived in the middle of the month, this method does not reflect well what happened, as explained by the Minister of Social Security, José Luis Escrivá .
2. Increase in registered unemployment in March. Like the Social Security numbers, there are also no precedents for such negative data. This figure worsens that of January 2009, which until now was the worst in the statistical series.
3. The day to day employment. The daily evolution of the affiliation shows when the effects of the pandemic on the labor market begin to be noticed and how since the eve of the declaration of the state of alarm, on March 15, employment was already being destroyed. In Spain there are currently 18,445,436 workers contributing.

Eight charts explaining
4. The drop in hiring. Every month in Spain about two million work contracts, of which 90% are temporary. The sudden labor cooling is clearly seen in that in March, only 1.26 million labor contracts were signed, 26.5% less than in the same month of the previous year.
5. The most hit activities. Hospitality and construction are the activities that are suffering the most from the virus. The first is a branch closely linked to tourism, which is one of the sectors that is suffering the most from the coronavirus impact.
6. The worst hit provinces. All Spanish provinces have lost jobs since the state of alarm was declared. The most punishing has been Cádiz, with a loss of 8.3% of members. Malaga follows (-7.9%). The least damaged has been Guipúzcoa, which has left 2.26% of employment.
7. Total volume of unemployed. With the monthly increase in registered unemployment, the total figure rises and interrupts the downward trend that it has maintained since March 2013.
8. Total volume of employment. The collapse in membership in March has abruptly interrupted the rise maintained by Social Security, which last July set a maximum number of contributors with jobs.


Leave a Reply

Your email address will not be published. Required fields are marked *