Employment record: More than half a million new jobs were created in Spain in 2023

Employment record: More than half a million new jobs were created in Spain in 2023

Despite the rise in prices of food and services, inflation and international conflicts, Employment has managed to remain on the rise and 540,000 new jobs have been created in our country in 2023. A difficult year for the economy, whose growth has slowed compared to 2022, where it reached 5.5%. Last year ended with a total of 20,836,010 affiliated workers, the highest figure since 2007.

Unemployment and employment in Spain during 2023

Although the macroeconomic growth projections estimated by the Bank of Spain place the situation in the coming years at a low percentage increase, employment has managed to remain on the rise and create new jobs in 2023. Despite the fact that it was already observed that November had been a particularly positive month In labor terms, employment continued to grow in the month of December.

With a decrease of 27,375 unemployed people, according to data from the State Public Employment Service (SEPE), December closes 2023 with the Most positive job growth picked up since the economic crisis 2008. This year has seen the creation of half a million new jobs and accelerated employment growth.

2023 has ended with a decrease of 130,197 fewer unemployed. This figure leaves the unemployment data at 2.7 million people unemployedwhich is the lowest amount in the last sixteen years.

In reference to gender of affiliation, male unemployment has decreased by 57,022 people, while female unemployment has decreased by 73,175. Within this record, the total of unemployed women also reaches the lowest values ​​since 2008. In total, 1.6 million. This figure represents an increase of 300,000 affiliates compared to the unemployment figures at the end of 2022, reaching a total of 9.8 million.

Also youth unemployment figures are reduced. With an increase of 12,014 employed people, youth unemployment is the lowest ever recorded, leaving a total of 193,965 unemployed under 25 years of age.

The most significant drops in unemployment Autonomous communities They are collected by the Balearic Islands, with 11.5% less, Aragón, with 9.5% and Galicia with 9%. However, Communities such as Madrid and Barcelona have remained behind, with 0.7 and 0.9 respectively.

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What is expected for 2024?

After a 2023 especially positive in terms of job growthas we have seen in the summary of the year, the forecasts for 2024 They place a more modest general scenario. The employment outlook, together with the macroeconomic estimates of GDP growth for Spain during the following year, foresees that the advance of the employment and affiliation data will rise continuously but contained. Which represents a context similar to that which has been experienced since 2021.

Aspects like the increase in minimum wagehe increase in contributions and the labor reforms regarding reduction of working hours and severance pay, can pose more challenges (or what is the same, more costs) for companies. Which, according to experts, could affect growth labor.

Despite everything, the data collected in 2023 represents a promising general scenario. Therefore, even in the face of the prediction of a “cooling” or slowdown in the market, Spain would be able to maintain a stable employment outlook in 2024.

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