Business Employment will grow by half in 2020

Employment will grow by half in 2020

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261,000 jobs will be created this year for the 500,000 of 2018, according to ManpowerGroup

The slowdown in the labor market will continue during 2020 and 2021. Economic uncertainties and wage pressure will have an impact on job creation, which will still maintain moderate growth rates of 1.3% this year and 1.4% in 2021, incorporating 261,000 new workers in 2020 and 279,000 employees next year. This follows from the Manpowergroup index "Employment in 2020" prepared by the US labor services company. These rhythms are half of those recorded in the most prosperous period of market recovery. In 2015, employment grew by 3%, generating 522,000 new jobs. In 2016, the rate was 2.7%, with the incorporation of 476,000 workers. In 2017, the increase remained at 2.5%, with a gain of 483,000 employees and in 2018, the variation was 2.5%, with 503,000 more employees. Last year it closed with 407,000 jobs created, an increase of 2.1%. Nevertheless, at the end of 2021 Spain will be very close, just two points, having recovered all the employment lost during the crisis. However, jobs prior to the construction crisis or possibly in the industry will not be fully recovered. Again, it will be the services sector that will pull the economy the most, with strong labor growth, which maintains the “outsourcing” of the labor market in Spain above the European average.

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