Effects of the 2020 and 2008 crises on the Spanish labour market

The 2020 lockdown resulting from the COVID-19 pandemic cost nearly one million jobs between February and May, a figure similar to what was lost between Aug-08 and Mar-09. In contrast, the measures adopted in 2020 have allowed for a smaller impact on employment than that observed in the GDP.

Key points

• Key points:
• In relative terms, Andalusia, the islands and the Mediterranean coast experienced the largest drops. Above all, the Balearic Islands were more affected by the COVID-19 crisis than by the crisis in 2008.
• In 2020, the sectors most affected were those in which the possibility of carrying out tasks remotely were very limited (less than 26%): hotels and restaurants, construction and artistic and administrative activities.
• In 2008, construction and to a lesser extent the industrial and financial branches were more affected. On the other hand, the tourism industry was less impacted.
• In terms of age, the youth were again the most affected by the crisis in 2020, but also the non-youth, Spaniards and foreigners alike. And this, after the ageing observed in the Spanish labour market since 2008.
• By gender, the effect of COVID-19 has been less biased than in 2008: because it also affected not so young women (between 35 and 49) and a greater impact on sectors with more women and less in construction.

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