"The labor market is still in a normal growth situation and we

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After a record 2022 in affiliation and with the lowest unemployment in 14 years, the labor market has begun to slow down in Spain. This, added to the economic turbulence and the wave of layoffs in recent months, raises the question: What is going to happen to employment in Spain in 2023? Although Spain continues to create jobs in 2023, the effects of inflation and fear of a recession are increasingly evident . For the Government, the slowdown in employment is a natural phenomenon that had to come, after months of intense growth in hiring. "After a good start to 2022, and especially a spring with very intense job creation, we saw that this pace was not going to be able to be maintained for the entire year," explains Gonzalo García Andrés , Secretary of State for Economy and Business Support, in an interview with Business Insider Spain . The first signs appeared at the end of 2022, when unemployment once again exceeded 3 million unemployed and employment fell compared to the third quarter.

The picture did not improve in January : the affiliation and unemployment data published today reveal a drop in job creation and an increase in unemployment by 70,744 people. However, it must be taken into account that January is historically a bad month for employment. The increase in unemployment of 70,744 people is below the average increase of 81,424 people Asia Phone Number List in recent years. In fact, the latest data does not alter the Government's forecasts for 2023: "That the middle of 2022 has been softer and that some data in quarterly terms is not positive does not lead us to reconsider the behavior of the labor market," clarifies the Secretary of state. 7 graphs that reveal that employment enters a "pause" in 2023 due to the crisis Waiter employee In fact, at the beginning of January, a traditionally bad month for employment, Social Security affiliation increased by 42,387 people in seasonally adjusted terms.

A good piece of information after the December puncture. "The data we have regarding affiliation in January suggests that the labor market remains in a normal situation of employment growth ," says García Andrés. But the goal of job creation in 2023 is ambitious: the objective is to end the year with 21 million workers in the labor market and for unemployment to drop to 11.7% in 2023. " GDP growth will allow us to continue creating jobs and by the end of 2023 there will be almost 21 million employed people and the unemployment rate will be below 12%," predicted in October the first vice president and minister of Economy and Digital Transformation. Nadia Calvino. Right now the unemployment rate stands at 12.87% and there are 20.26 million affiliated workers, which means that 750,000 jobs would need to be created this year to reach that goal.