These are the reasons why Spain will not see a “Great Resignation” like the US

In the month of August 2021, the United States has resigned from their jobs in a month more than 4.3 million workers. That is to say, almost 2.9 percent of all workers in the United States.

In September 2021, this figure increased by 164 thousand workers more than left their jobs, raising the figure to record levels in the United States of 4.4 million workers.

This event that has happened in the United States has been called “Great resignation”, Since it is a labor phenomenon that has generated quite a division between the causes of why it has occurred.

Spain has a very different labor market than the United States

The impact of the coronavirus on the labor market in Spain in many sectors has been devastating, but currently there is a recovery in the figures. But in Spain a “Great Resignation” is not going to happen as has happened in the United States.

Workers in the United States are quite tired of the sanitary restrictions and the overloaded companies are, have decided to quit their job.

In Spain, according to data from the EPA for the third quarter of 2021, the unemployed were 16.2 million people, being lower the figure that was reached in the second quarter of 2020, the highest peak in Spain, which exceeded the 17.5 million people unemployed.

In Spain, the reasons why workers leave the job search are the following:

  • Being affected by an employment regulation.
  • Being in the care of sick, disabled or elderly children or adults.
  • Other family or personal obligations.
  • Own illness or disability.
  • Carry out teaching or training courses.
  • Or just be retired.

Clearly, these reasons are very different from those that occurred in the United States with the “Great Resignation”, having a better health system, although congested and sometimes considered slow, but universal.

In Spain, unemployment levels remain through the roof although it recovers

In Spain every month that passes the labor market is recovering, in September we had a decrease of 76,113 people compared to the month of August, a month always with historical increases due to the end of the summer.

In September, although it was the seventh consecutive month that unemployment fell, the total number of unemployed in Spain stood at more than 3.2 million people, being the lowest since February 2020, the beginning of the restrictions due to the coronavirus in Spain, it is still quite high.

We must bear in mind that these data do not include workers who are in a situation of suspension of employment or reduction of working hours, such as consequence of an ERTEtherefore, we can consider that this figure may be much higher.

Clearly, the situation of the labor market in Spain is very different from the situation of the labor market that we can find in the United States, where unemployment levels are very low compared to those in Spain.

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Poverty punishes Spanish families because of the coronavirus

About 5.1 million people in Spain they are within the poverty line caused by the coronavirus, that is, they live with less than 16 euros a day. During 2020 and 2021 the poverty threshold value in Spain has increased by 10.9 percent.

The poverty rate in Spain has been 22.9 percent, which has meant a million more people, and can be given thanks to the ERTES, since it is estimated that more than 710 thousand people have been able to survive, and avoid falling into poverty.

The profiles that have suffered the most in the crisis have been the women, the migrants, and people with low studies or those who belong to a racialized collective. Women represent 57 percent of all people who are underemployed in Spain and 73 percent are working part-time, according to data from Oxfam Intermon.

Given this situation, I very much doubt that a family decides, no matter how bad their job is, to quit their job. He must be in a very unbearable situation for him to jump into the pool like they do in America.

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Spain is the country with the fewest public injections of direct money to citizens during the coronavirus pandemic

According to data from the European Central Bank (ECB), it is calculated that Spanish aid in 2020 has been 1.3 percent of GDP compared to the euro zone average, which has been 4 percent.

Spain, however, in liquidity measures such as ICO’s guaranteed credits for worst-off companies. Most of the emergency funds against the crisis have been to support businesses and jobs at risk.

On the other hand, in 2009, at the worst of the international financial collapse, the stimulus measures approved in the euro zone reached 1.5% of GDP, far from current levels.

A very different situation in the United States, since direct aid to the pocket of citizens has been approved with a minimum value of $ 1,400, that is, around 1,200 euros.

It is very unlikely that there will be a “Great Resignation” In Spain

Spain is not producing a phenomenon similar to that of the United States, although a some decoupling between supply and demand, because companies in certain sectors cannot find professionals with the experience and skills they demand.

Another reason, because there are professions that are no longer attractive to the unemployed due to their working conditions (salary, stability, type of tasks to be performed, etc.). In that sense, one can speak of a great resignation.

Although it is unlikely that there is a “Great Division” in Spain, however, the coronavirus pandemic has generated a change of mindset and priorities in the lives of workers.

Image | Santiago Site


Source: El Blog Salmón by www.elblogsalmon.com.

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