More than 115,000 jobs were created in June and unemployment has fallen, although a quarter of what it was last year
The labor market, after months of appearing to be immune to the crisis in Ukraine, is this time starting to be infected by the current scenario of high economic uncertainty and high prices and putting a brake on the strong job creation it carried. For example, June closed with 115,606 new average affiliates, an important figure, yes, the third best figure in the series this month, but much lower than last year, when more than 233.00 jobs were created, and previous months.
If a slight decline in the pace of job creation was already observed in May, there is no doubt about it in June: the year-on-year rate of change has fallen by more than six-tenths to 4.35%, suggesting that that path of the strong acceleration that started last September has softened.
Even this slowdown is more evident in the unemployment data, as June 2022 shows the worst unemployment rate in this month of the entire decade, excluding the year of the pandemic. For example, the number of people registered with the Public Employment Service (SEPE) offices fell by just 42,409, a quarter from what fell last year and well below the data for other months of June, in the usual numbers close to or even more. than 100,000 fewer unemployed.
In any case, the total number of unemployed has fallen to 2,880,582 and remains at its lowest level since October 2008, when the Great Recession started, while Social Security has reached another milestone by reaching 20.3 million in June. – and all indications are that it could even exceed 20.5 million this summer.
In addition, the labor reform continues to have a positive effect on the labor market and the percentage of employees on permanent contracts is already close to 80%, which is unprecedented when one considers that it is higher than the average of the last seven to nine in this month. points.year.
A notable increase in these contracts can also be seen in sectors with more temporary contracts, such as construction, housing, catering and administrative work.
In addition, positive effects can be seen mainly among young people, a group with usually many temporary workers. Among young people under the age of 30, the percentage of employees with an open-ended contract has increased by 27 points compared to this month’s average, from 37% to 64%.
In concrete terms, 783,595 open-ended contracts were signed, representing almost one in two new contracts (44.3%) in a month hitherto characterized by temporary contracts. Multiply the average number of permanent contracts this month by five.
But there are also shadows when it comes to hiring. For example, barely 40% of those permanent contracts were full-time and almost the same number of permanent non-continuous contracts, while almost 23% of the total were open-ended but part-time contracts.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
