The good news is that employment continues to grow. In the month of June, 54,541 new jobs were created, bringing the total affiliates to 20,869,940, the highest level in the series. In addition, unemployment is reduced by 50,268 people and its total number drops below 2.7 million for the first time in 15 years.
In other words, the positive streak of this year in terms of employment continues. However, the nuance comes when observing a slowdown in the creation of jobs. It is noticeable when verifying that the increase of 54,000 new affiliates is well below the growth of the affiliation of the months of June of the last years; For example, it is half of what was achieved last year and it is the lowest growth in a month of June since 2015.
And even more significant, if the seasonally adjusted data is observed, that is, corrected for the seasonal and calendar effects, and those that have always been preferred in the Ministry of Inclusion and Social Security, jobs were lost in June. Specifically, there are 20,119 fewer affiliates.
It is true that from January to June, in seasonally adjusted terms, there are close to 450,000 more affiliates, which is the best first half of a year in the entire historical series. But this rate of job creation is difficult to maintain. The Bank of Spain already warned two weeks ago that both Social Security affiliation and some confidence indicators were showing signs of slowing down. “The second quarter has gone from more to less,” they said at the time.
Analyzing the sectors, the increase in affiliates in hospitality and commerce stands out, with more than 30,000 new jobs in each sector, followed by health. On the other hand, the end of the school year takes its toll, with a sharp drop in education, where 50,000 affiliates are lost, a reduction of almost 5%.
Regarding the quality of employment, the percentage of affiliates with a temporary contract remains at a record low of 14%, less than half of what was registered before the entry into force of the labor reform, which was 30%. In the case of those under 30 years of age, the temporary employment rate has been reduced by 31 points with respect to the level prior to the reform.
With regard to registered unemployment, the total of 2,688,842 unemployed is the lowest since 2008. There is a general decrease throughout the country, affecting all sectors, except for a minimal increase in agriculture, and all stripes old. The most significant decrease occurs in services, with 42,000 fewer unemployed; followed at a distance by industry and construction.
Regarding hiring, and despite the fact that June is a month prone to seasonality, 42% of the total contracts signed are of an indefinite nature. Of these contracts, the majority are permanent discontinuous, 40% of the total; 38% registered full-time and the remaining 22% part-time.
