September Employment Trends Reveal Unprecedented Gains in Social Security Contributors Amid Seasonal Job Shifts
In September, Social Security registered an average increase of 8,805 contributors, a significant rise attributed primarily to the surge in employment within the education sector, which welcomed nearly 50,000 new employees at the start of the school year. This increase stands in contrast to the declines seen in the commerce and hospitality sectors, which lost 41,000 and 30,000 contributors, respectively, as the summer tourist season came to an end. The latest data, released by the Ministry of Inclusion, Social Security and Migration, indicates that September 2024 has marked a record high for Social Security contributors with an average of 21,198,206 individuals, the highest for the month since records began. From September 10 to 30, the daily contributor count exceeded 212 million employed individuals, illustrating robust employment levels that have surpassed the 212 million threshold in seasonally adjusted terms.
Elma Saiz, the Minister of Inclusion, Social Security and Migration, emphasized the historical significance of this growth, noting that while the 2024 increase in affiliates is less pronounced than those seen in previous years from 2020 to 2023, it outstrips the growth recorded in September 2019, which saw an addition of 3,224 contributors.
Over the past year, from September 2023 to September 2024, Social Security has seen an addition of 473,411 affiliates, translating to a year-on-year growth rate of 2.3%. In adjusted terms, the number of contributors increased by 22,220, maintaining the system's total at 21,220,899 contributors.
Despite these gains in employment, the seasonal changes have also led to increases in unemployment figures, particularly in the service sector. September saw a rise of 3,614 unemployed individuals, bringing the total number of unemployed registered at public employment service offices to 2,575,285, the lowest for a September since 2007. The Ministry reported this month's increase represents the smallest rise for September since 2004 and the best performance for that month since 2007, excluding pandemic affects.
The service sector, particularly affected by the conclusion of the tourist season, experienced a notable increase of 4,351 unemployed, while the number of unemployed individuals without any previous employment rose by 6,549. Females disproportionately absorbed the rise in unemployment, with a gain of 3,080 women unemployed compared to a marginal increase of 84 men.
As of the end of September 2024, the total number of unemployed women is 1,553,738 – the lowest level for that month since 2008. The number of unemployed men stands at 1,021,547. Notably, the youth segment suffered most acutely, as unemployment among those under 25 increased by 85 individuals; whereas individuals aged 25 and older saw a decrease in unemployment by 11,863.
In sector analysis, while construction, agriculture, and industry saw declines in unemployment, the service sector experienced a rise, highlighting a shift in employment trends during seasonal transitions. The data indicates that, overall, unemployment has decreased over the last year by 147,183 individuals, reflecting a decline of 5.4%. Furthermore, women’s unemployment fell by 87,125, while men’s numbers decreased by 60,058.
As for young people, the number of unemployed under 25 is now recorded at 192,139, marking a new historical low for September, pointing towards a need for targeted employment strategies for youth amidst ongoing sector changes. The labor dynamics of Spain reveal a complex interplay of seasonal employment shifts and sustained contributor growth in Social Security, underscoring the varied landscape of the job market as it continues to recover from the fallout of the pandemic.
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