The data made public by the Ministry of Labor, Migration and Social Security show that the registered unemployment increases in November for the fourth consecutive month. LThe figures for unemployment, hiring and affiliation to Social Security confirm the slowdown in economic activity and, with it, employment.

In this stage we must continue to insist on the importance of achieving social, political and institutional stability that creates a climate of trust and legal certainty, which boosts investments and slows the decompassing that has been appreciating in recent months between economic growth and employment and that responds not only to the cooling of the global economy, but also to uncertainty – which translates into the loss of business confidence of almost three point according to the INE survey – and probably the increase in labor costs.

Therefore, it is a priority to undertake, within the framework of dialogue and social consultation, changes that favor economic recovery and growth and job creation in a sustained manner, without such process being hampered by measures that entail greater rigidities and costs for the companies.

The number of unemployed increases this month by 20,525 people, to 3,198,184 unemployed. Although we are facing the lowest unemployment figure in a month of November since 2008, it is significant that it is the largest increase in that month since 2016. In seasonally adjusted terms unemployment increases by 4,113 people.

In the valuation of these data it cannot be ignored that November is a traditionally negative month for employment, due to the end of the last positive effects of the summer season, to which this year the global economy slowdown and uncertainty in the national and international level.

Therefore, when the analysis is seasonally adjusted, it is important to highlight how the balance of the last twelve months reflects a drop in unemployment in 54,683 registered unemployed, with an interannual rate that slows down to -1.68% from -5.49% of the month of January.

All of this abounds in the need to intensify efforts to generate a climate of trust that will improve employment levels, making possible the social cohesion and sustainability of our welfare system.

Aligned with the unemployment data, those of Social Security affiliation reflect a drop compared to the previous month by 53,114 people. In this way we are facing the biggest decline in this month since 2013. The number of employed affiliates stands in November at 19,376,878. However, in seasonally adjusted terms, membership increases by 30,610 people.

In order to seasonally analyze the affiliation figures, we observe that in annual terms the affiliation increases by 431,254 people, of which 417,266 correspond to the General Regime. In this way, the interannual rate stands at 2.28%, with a progressive fall from 2.94% in January.

>> Labor Market Observatory-December 2019

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