Spain will create 750,000 jobs in the next two years, according to ManpowerGroup

January 13, 2019
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This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The positive employment dynamics experienced in Spain in 2018, with a 2.5% increase, are expected to continue in the next two years.

Specifically, in 2019 and 2020 an average annual growth of 2.1% and 1.8% could be reached, respectively, generating 404,000 new jobs this year and another 346,000 in 2020.

This is one of the main conclusions contained in the ManpowerGroup Index 'Employment growth forecasts 2019-20: continuation trends in the recovery fund with 400,000 new jobs and higher quality of employment created', presented recently in Madrid by Raúl Grijalba, Regional Managing Director of the Mediterranean region of ManpowerGroup, and Josep Oliver, Professor Emeritus of Applied Economics of the Autonomous University of Barcelona and author of the study.

According to Raúl Grijalba, "Despite some economic slowdown initiated at the end of 2018, Spain has potential for its economy and its employment to continue growing. We can be proud because, although we represent only 12% of employment in the Eurozone, between 2017 and 2018 we generate close to 25% of employment. However, political and legislative instability can generate a prolonged uncertainty that affects investment, demand and, ultimately, economic activity, always negatively impacting on employment."

The recovery initiated at the end of 2013, if the forecasts are met, will add more than three million jobs created in seven years. By the end of 2020, employment would practically reach the maximum levels of the previous boom, being -2.5% lower.

In any case, employment growth up to 2020 will be slightly more contained than a year ago, due to a lower GDP growth as well as gains in the productivity of companies, especially in the industry. Spain will go from 476,000 new jobs in 2018 to 404,000 in 2019 and 346,000 in 2020.

Of the 750,000 new jobs in 2019 and 2020, some 551,000 would correspond to the services sector, 127,000 to industry and 60,000 to construction. At the sectoral level, the outsourcing process continues, and by the end of 2020, the services sector will account for 76% of all employment, three out of four jobs.

More than 16% of these jobs will be linked to business services and company exports, with logistics, transportation, consulting and technology at the forefront. Hospitality will continue to be relevant with, also, 16% of new employment.

For Josep Oliver, "2019 and 2020 expresses the continuity of the underlying trends of the recovery and, in particular, of some of those that point to a higher quality of created employment. This would be the case of the strong advances of the full day, of the fall of underemployment or of the intense growth that is expected of the employees, in front of a practical stagnation of the self-employed."

Characteristics of the new employment

Employment will increase significantly more in immigrants than in natives, and well above the average in those aged 35 or older.

In addition, the continued increase in female employment is confirmed. In relative terms, means of the two years, the new employment of 2019-2020 will increase in women (2.8%), medium and high levels of study (3.3% and 3.8%, respectively) and for the ages between 35 and more years old (2.4%).

Finally, the new employment in 2019 and 2020 will accentuate its salaried component (2.2%) and full-time (2.1%).

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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January 13, 2019

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