Spain loses 14,358 jobs in November, weighed down by the hospitality industry
The labor market closed last November with an employment destruction of 14,359 jobs. A loss of affiliation to Social Security that is common in this month of the year and that is concentrated almost exclusively in the hospitality sector. This is reflected in the Social Security affiliation and unemployment data published this Tuesday.
However, although jobs were destroyed, the drop in employment was considerably smaller than that seen in November of last year, when Social Security lost 30,050 affiliates. And it was also more moderate than in the two years prior to the pandemic, when job loss was around 50,000 affiliates.
However, employment remained above the barrier of 21.8 million members. Specifically, there are 21,825,233 labor relationships that were registered, on average last month in Spain. We are talking about 523,000 more than at this time last year. Regarding registered unemployment, The SEPE offices recorded a decrease of 18,805 unemployed. Thus, the total number of unemployed stood at 2,424,961 registered, a new low since 2007.
The drop in employment is common in November due to the weight of the hospitality industry, which sees its last contracts end after the high season. In fact, membership grew in practically all sectors except the hospitality sector, where some 120,000 jobs were lost.
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