While more than 100,000 jobs were destroyed in the private sector at the end of the year, the state added 20,000 more workers and reached a new maximum of more than 3.5 million
The sharp fall in the labor market at the end of 2022 would be stronger if the public administration had not created employment in this last period of the year. While the private sector destroyed more than 100,000 jobs in the fourth quarter, the state added 20,000 more workers, 72,300 more in the second half of the year, practically matching those lost in the corporate sector. The number of government employees thus rises to a record high and consolidates above the 3.5 million threshold it passed in the third quarter.
This is a bad sign for the economy, as it indicates that rising costs and prices, rising interest rates and supply problems are already impacting business activity, the employers’ association Cepyme warned yesterday, asking the government ” respect”, “more support” and stop the policy of increasing costs and burdens so as not to further weaken the productive fabric.
And while civil servants reach maximums, the self-employed are reduced, to the point that 111,200 entrepreneurs were lost in 2022, leading the ATA association, the one with the largest representation of this group, to describe it as “annus horribilis”. and expresses concern about “alarming numbers”.
“The situation of the self-employed and of many companies is currently very complex and, if no measures are taken, we will undoubtedly see it deteriorate and the number of self-employed persons will continue to fall. used if no solution is provided,” claims the president, Lawrence Love.
And everything indicates that this slowdown in employment will continue throughout 2023, when the pace of job creation will be much lower than in these two years and even during the recovery phase after the previous financial crisis.
“The phase of strong recovery is over and now a phase of mini-growth is coming,” predicts Javier Blasco, director of The Adecco Group Institute, who estimates that the number of unemployed will remain above three million and reach 13 million . %.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
