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Employment starts the year on the right foot and adds 25,294 sharpened in the last month

Date: May 31, 2023 Time: 22:58:32

After a month of slowdown in job creation in December, the data available up to mid-January suggest that the labor market would have started the year on the right foot. The number of affiliates increases by 25,204 media in the last month – between December 15, 2022 and January 15, 2023 – according to the new formula to calculate the seasonally adjusted data, which eliminates the calendar effects, which eliminate the effects of calendar Tuesday the Ministry of Inclusion Social Security and Migrations. This increase places the total number of contributors at 20.26 million.

The data for the moving month is more positive than that of the immediately previous period (from mid-November to mid-December) when 7,357 jobs were created in seasonally adjusted figures. Until now, the department headed by José Luis Escrivá published around the 15th a forecast of how employment would behave throughout the month based on how the first fortnight had been. With the new calculation, the Ministry takes that first fortnight as a reference -in this case, from January 1 to 15- and makes an average with the data of the two previous weeks. In this way, it incorporates only real data that, as they explain, is also more stable and better reflects the situation of the labor market.

The methodology that the Ministry has begun to use makes a cradle in the daily affiliation data and eliminates the seasonal effects (the “high frequency” figures, as the technicians call them), in such a way that the ups and downs that come with obtaining the summer season, the Christmas campaign… The new way of calculating this figure “is based on two advances developed in recent months that guarantee a clearer vision of the evolution of affiliation and that allow monitoring of the labor market with data of greater frequency than the monthly, the only ones available so far”, point out from Social Security.

With the daily membership data without seasonal adjustment, 42,387 new contributions would have been recorded at the start of the year. The new statistics will not reflect such strong fluctuations in job creation or destruction in a month, as in fact happened with the data for January. The Ministry will continue to make public the data of the average monthly evolution and without seasonal adjustment, which will allow us to see, when comparing with other exercises, how employment is progressing in that same seasonal season.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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