The labor market continues its growth process with considerable force. The economy showed strong momentum in the month of May, it’s usually a good month and benefits from the start of the tourist season: unemployment has risen only twice in May on record. In this regard, the data on social security membership (registered workers) and registered unemployment, released today by the departments of social security and labor, show a significant increase in employment and a significant reduction in unemployment.

Particularly in May the number of registered workers increased by 200,400, fully in line with average employment growth between 2014 and 2019 and slightly below the exceptional 214,000 new affiliates registered in May 2022 and 212,000 affiliates in May 2021, although there were still a large number of companies at that time leaving ERTE who still had to restore the workers they had without re-activating.

And the same good employment rate is also felt in the registered unemployment data. In May, 49,300 people lost their jobs, bringing the total number of unemployed to 2,739,110, the lowest since May 2008. It should be recalled that in May last year, Spain for the first time since 2008 decreased from three million unemployed, so that in just a year it experienced a fall of almost 184 thousand people (-6%).

If you do not take into account the fact that the most tourist months employment and offset by less seasonally affected months, the total number of branches will increase by 28,000 in May, and the total number of branches will exceed 20.7 million for the first time. In addition, the same data shows that 470,000 jobs were created in the first five months of the year, which is the best period from January to May in the entire historical series.

However, the evolution of ownership across sectors is the key to understanding the progress of an economy. And the data shows that the hospitality industry starred in the recovery of workers, with 67,315 members from the previous month, followed by administrative activities with 20,930 employees and trade with 16,009 new jobs. The agricultural system also received 16,539 jobs. On the other hand, the manufacturing industry grew by 11,136 participants.

with new data Temporality remains at an all-time low 14% compared to the 30% average registered in Spain before the latest labor reform was approved. Among young people under 30, temporary employment decreased from 53% to 21%. In total, with an indefinite contract, there are now three million more than in the month before the labor reform, December 2021.

In April, Holy Week resulted in the creation of 200,000 jobs and unemployment fell from 2.8 million for the first time since 2008. of people. Employment also rose by more than 200,000 people in March, the highest increase in history this month, while unemployment fell by more than 50,000 people. Taken together, the data leave a historical footprint because More than 200,000 jobs were created in the labor market in three months, until it shows signs of exhaustion. Now the question is whether it will reach 21 million employees this summer, just a year after hitting 20 million.