Spain | LFS 4Q20: improvement in the labour market continued, despite the health situation
Published on Thursday, January 28, 2021
Spain | LFS 4Q20: improvement in the labour market continued, despite the health situation
Employment grew by 167,400 (-3.1% YoY), but 815,600 people worked fewer hours than usual due to ERTE or partial unemployment. The moderate increase in the labour force helped the unemployment rate to fall to 16.1%. In 2020, 576,900 jobs were destroyed (-2.9%) and the unemployment rate rose to 15.5%.
Key points
- Key points:
- Employment recovery continued and the ERTEs played a cushioning role
- Labour force participation rebounded less than expected, which reduced the unemployment rate
- Despite the extraordinary employment protection mechanisms, the labour market was not immune to the pandemic in 2020
- The Balearic and Canary Islands were at the forefront of job destruction in 2020 due to the impact of the health crisis on tourism
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