Brussels criticizes the “precariousness” of employment that exists in Spain: “Especially among young people and in the public sector” | EUROtoday

Get real time updates directly on you device, subscribe now.

The European Commission introduced yesterday that it’s saving Spain from the extreme deficit process since, regardless of closing 3.6% of the Gross Domestic Product (GDP) final yr, the forecast is that the deviation will likely be diminished to three% within the subsequent yr. current train and thus stays inside the reference restrict. The choice was even superior and celebrated by the President of the Government, Pedro Sánchez, earlier than it was made public. The European Commission has taken us out of the extreme deficit process, he acknowledged throughout the management session to the Executive.

But Brussels additionally identified, very instantly, one of many greatest issues suffered by the Spanish financial system: the nonetheless excessive degree of unemployment, with 12% unemployment, which is double the European common. And though it acknowledges the progress in job creation that has occurred in recent times, Brussels reveals particular concern concerning the precariousness labor that exists in Spain.

Despite the appreciable enhancements recorded, job insecurity continues to be widespread, particularly inwithin the public sector and amongst younger individuals, factors out the Commission within the chapter devoted to Spain inside its spring package deal of the European semester. The proportion of non permanent contracts within the Administration, he continues, is near 30% and It particularly impacts girls and the well being and academic sectors. The proportion of staff with a fixed-term contract is among the many highest within the EU, the fee famous exactly the day the Executive proposed a public employment provide for this yr that, for the primary time, will exceed 40,000 positions.

Young individuals, for his or her half, endure part-time work charges 2.3 occasions increased than the EU common [49,1% frente a 21,3%]. And, moreover, three out of each 5 younger individuals who work have executed so for lower than a yr, which, as soon as once more, is among the the best figures within the European Union.

Another side that stands out negatively within the Commission doc, and that’s instantly associated to the scenario of the labor market, is the low productiveness of the Spanish financial system. Still beneath the EU common, the textual content factors out, after which highlights that productiveness per hour labored stays beneath pre-pandemic ranges. The distance from the EU common has elevated considerably within the final decade, he explains, and a few of the most worrying elements are the scarcity of certified personnel, the fragmentation of the labor market and the restricted funding in R&D.

Outside the imbalance group

The Executive, nevertheless, didn’t allude yesterday at any time to this name for consideration from the Commission and burdened that, along with not being inside the deficit process, Spain has additionally ceased to be a part of the nations with financial imbalances. We went out, for the primary time since 2012, of the group of nations with macroeconomic imbalances. The Commission acknowledges the structural enchancment of our financial system, which is positioned as one of many progress engines of the Union, the Minister of Economy, Carlos Body, celebrated yesterday.

Spain not presents macro imbalances and not must be topic to bolstered surveillance, sources from the identical division clarify the significance of this choice. The image of Spain, when it comes to budgetary deviation and management after the return of fiscal guidelines, is undoubtedly optimistic.

It isn’t a lot, nevertheless, for 2 different massive European economies: Italia y France. The Commission consists of each nations within the extreme deficit process, a choice that within the French case additionally comes after the victory of the intense proper within the European elections and the development of the legislative elections by President Macron. The French financial system registered a deviation of 5.5% and for this yr the Commission foresees a slight and inadequate correction to five.3%. Sources from the French Executive indicated yesterday that almost all that emerges from the legislative elections of June 30 and July 7 must work with the European Commission to outline the medium-term technique to cut back this extreme deficit beneath the three% restrict. experiences Efe.

Italy, for its half, recorded a good increased deficit final yr: 7.4% of GDP. The effort you’ll have to make will, due to this fact, be even increased. But the Meloni Government identified that the infringement process is broadly deliberate. Since we got here to Government now we have begun a technique of accountability and sustainability in public funds that has been appreciated by the markets and establishments, they added. The whole variety of passes filed quantities to seven, with Belgium, Hungary, Malta, Poland and Slovakia along with these already famous.


https://www.elmundo.es/economia/macroeconomia/2024/06/20/6672cd1fe4d4d8791a8b457a.html