Spanish businessmen stop hiring for this year

Economic uncertainty leads the country to star in the largest drop worldwide in job creation expectations

Lucia Palacios

The fear of a recession scares Spanish businessmen, who have stopped short of their intention to hire and increase staff in this last quarter of the year, to the point of practically paralyzing them, after a year of record growth. This is reflected in a survey on employment projection published this Tuesday by the consulting firm ManpowerGroup.

The managers foresee that the employment market will have an almost flat behavior due to the uncertain panorama that is drawn by the price of energy, inflation, the bottlenecks in the supply of some raw materials and with the invasion of Ukraine as a backdrop. background, according to the report. Therefore, net forecasts for the last three months of the year stand at 2% compared to 21% in the previous quarter and 33% in the same period of the previous year. This represents a quarterly cut of 19 points and 31 if compared to the previous year. Both lead the most significant falls among the 41 countries analyzed. In addition, at a global level, Spain is the fourth worst market in terms of forecasts, 28 points below the average (30%).

technology boom

Despite the fact that this is a general decline compared to the previous quarter, five of the eleven sectors analyzed remain in positive figures and anticipate growth in their teams for the next three months. At the head is the third sector and technology companies, with net expectations of 18% and 17%, respectively; It should be noted, however, that the latter is a figure far removed from the record figure reached at the beginning of this year 2022: 50%.

On the contrary, five other sectors expect to cut their employment, while one, the manufacturing industry, expects to remain, although it suffers a strong cut of 47 points. The collapse of construction is also striking, leaving 56 points; and the primary sector, which lost 46 points.

The drop in hiring expectations is generalized in all the Spanish regions, although it is uneven. The best employment forecasts for the last quarter of the year are in Valencia and Murcia, followed by Andalusia, Extremadura and the Canary Islands. On the contrary, the worst are recorded in the north (Aragón, Cantabria, La Rioja, Navarra and the Basque Country) and the center of the country (Madrid and Castilla-La Mancha).

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