Minister Reyes Maroto says that the data on the increase in unemployment is as expected

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The Minister of Industry, Commerce and Tourism, Reyes Maroto, has affirmed that the data on the increase in unemployment and decrease in employment last August “are as expected” and has considered that there are to “see the trend” of the labor market.

Social Security lost 189,963 affiliates on average during August, the largest drop in this month since 2019, so that the labor market returns to the behavior typical of the end of summer as in pre-pandemic years, while unemployment increased by 40,428 people, compared to to the decrease of the previous year.

Maroto, speaking to journalists in Bilbao after attending an event at the Museum of Fine Arts, has shown that every year in August “unemployment increases and employment decreases.”

“It was an expected figure and we have to see the trend, if the seasonality of the labor market is consolidated or maintained”, said the minister, who has indicated that despite the latest data in Spain “we are at maximum levels of employment and with unemployment rates below 13% and unemployment below 3 million people”.

Maroto has indicated that there is “a context of uncertainty but with solid foundations for growth and with a labor market that continues to have very good recruitment.”

Regarding the situation of the industry and the increase in unemployment in this activity, he pointed out that “regardless of the data, we must see month by month how the labor market behaves”.

He also stressed that the Government has made “an effort to protect” the sector from the crisis due to the rise in energy prices caused by the invasion of Ukraine by Russia.

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Among other actions, he pointed out that the Executive has reinforced “shock” plans to support the industry and now “there is an open aid line for the gas-intensive industry of 375 million euros and we have reinforced support for the electro-intensive industry up to 480 million , with tax cuts and we have suspended the electricity tax and reinforced aid through CO2 subsidies”.

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