SPAIN’S jobs market is full of optimistic reports about rising employment and falling dole queues but misleading statistics could be cause for unjustified celebration.
Unemployment dropped to below 25% this month for the first time since the crisis. But new statistics reveal that full-time jobs and salaries have also seen a decrease.
The number of full-time employees has fallen from just under 16.6 million at the start of 2012 to 15.8 million now – a total loss of 824,000 full-time jobs – according to data from the Quarterly National Accounts.
The average salary has also dwindled from €15.55 an hour to €15.36 over the past two years.
While an unemployment rate tells you how many people are in and out of work, it says nothing about the total number of hours worked, or salaries.
This information is needed to reveal the true figure of how many full-time jobs have been created, and how the average salary has been affected.
These statistics indicate that jobs have not been created but simply divided, so that while more people are ‘technically’ employed, even more are underemployed.
As the saying goes, there are lies, damned lies and statistics …