The end of the COVID-19 state of alarm and the immunization campaign have put Spain at a historic pace of restoring employment rates, Prime Minister Pedro Sanchez said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 02nd June, 2021) The end of the COVID-19 state of alarm and the immunization campaign have put Spain at a historic pace of restoring employment rates, Prime Minister Pedro Sanchez said on Wednesday.
Spain lifted the state of alarm on May 9.
"Vaccination is the best economic policy, we are proving it. In May, we returned to the level of employment that we had before the pandemic. The greatest drop in unemployment in history is being recorded ... We are advancing toward a just recovery, which reaches all and everyone," Sanchez wrote on Twitter.
According to the labor ministry, the number of registered unemployed dropped by 129,378 people in May, a 3.31% decrease from April and the greatest monthly drop in this period, which is usually favorable for job creation.
In total, there are currently about 3.8 million people registered with Spanish unemployment services, which is 545,203 people more than in February 2020, before the pandemic.
In addition, the Spanish economic rebound is reflected in a decrease in paid unemployment benefits and a decline in people registered with the Temporary Employment Regulation Files (ERTE), a system through which a company can temporarily suspend or permanently end a contract with an employee. As of May 31, there were still 542,142 people registered with the ERTE in Spain, which is 95,439 fewer than in April.
The maximum number of people who temporarily or permanently ended their working contracts was recorded precisely one year ago, in May 2020, when 3.6 million workers depended on unemployment benefits. However, 85% of citizens registered with ERTE have already returned to work.
