The pace of job creation in the Valencian Community slows down in the first quarter

The pace of job creation in the Valencian Community slows down in the first quarter
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In mid-April, the Institute of Economic Studies of the Province of Alicante (Ineca) warned, on the occasion of the presentation of its Socioeconomic Situation Report corresponding to the third quarter of April, that the affiliation and unemployment indicators “have maintained their process of growth and reduction , respectively”. and they asked reduce labor seasonality in the province.

Yesterday, the Statistical Portal of the Generalitat Valenciana (PEGV), confirmed this situation of stagnation in the pace of employment growth in the Valencian Community during the first quarter of 2024. “The total flow of entry into employment in the first quarter of 2024 is 135,700 people, a figure lower by 31,900 people compared to the previous quarter” but “higher by 8,800 people compared to the same quarter of the previous year.”

Also that the “outflow of employment this quarter is 136,300 people, which represents a decrease of 37,300 people compared to the previous quarter and 2,800 people compared to the same quarter of the previous year. Of these departures, 74,700 occur towards unemployment and 61,700 towards inactivity.

In a parallel report on the active population, the PEGV) points out that “Employment decreased by 34,900 people compared to the previous quarter (-1.50%), reaching 2,297,900 employees. Employment corrected for seasonal and calendar effects presents a quarterly variation rate of -0.12%. Over the course of a year, occupancy has increased by 42,400 people, which represents an interannual rate of change in occupancy of 1.62%.”

Employment rate by provinces of the Valencian Community.

PEGV

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Regarding unemployment flows, the same report concludes that “andthe number of people who were stopped three months ago and now they are not, stands at 168,500, This figure increased by 6,700 people compared to the previous quarter and by 21,700 people compared to the same quarter of the previous year. Of these departures, 97,100 occur towards employment and 71,300 towards inactivity.

In the case of total flow of unemployment entries, “reaches 157,500 people, 27,100 people below compared to the previous quarter and 8,900 more people compared to the same quarter of the previous year. Of these entries, 74,700 occur from occupation and 81,900 from inactivity.”

In this way, the number of unemployed people in the Community increases by 10,500 (3.03%), compared to the previous quarter and stands at 356,900. Unemployment corrected for seasonal and calendar effects presents a quarterly variation rate of -0.01%. Compared to the same quarter of the previous year, the number of unemployed people has decreased by 10,900 people, which represents an interannual rate of change in unemployment of -2.96%.

Older and less young

By age group, situations vary very considerably. Thus, “the outflow from employment to inactivity of the 55 and over age group is 16,700 people in this quarter. This figure is 100 people higher than that observed in the same period of the previous year.”

While among the people minors under 25 years of age who enter the occupation directly from inactivity this quarter “there are 8,800 (5,100 less than in the same period of the previous year) and 22,100 go from unemployment to employment (5,300 more than in the same period of the previous year).”

And lastly, for sex, “15,300 women enter the occupation directly from inactivity compared to 18,700 men. Of the total entries into employment that occur this quarter, 45.8% are women compared to 54.2% men. On the other hand, 70,900 women leave the workforce this quarter (52.0% of the total exits), a figure higher than the 65,500 men (48.0%).”

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