The economic recovery in Spain , with a projected rise in the Gross Domestic Product (GDP) of up to 6.8% in 2021, added to the significant advance in vaccination (more than 74% of the population with the full schedule) is driving expectations recruitment among Spanish managers.
In fact, according to a ManpowerGroup report, Spanish business leaders estimate the average net job creation at + 32% for this year 2021. In addition, 54% plan to expand their workforce before the end of the year.
Optimism in construction and hospitality
Optimism in overcoming the coronavirus pandemic and, by extension, in the attempt to increase the hiring of workers due to the anticipation of higher demand is especially significant in two basic sectors of the Spanish economy: construction and hospitality.
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Specifically, in these two sectors, until now paralyzed in previous quarters (construction) or still, but negatively, (hospitality), a contracting of 54% and 58% is expected in the fourth quarter of this year 2021 respectively.
According to the ManpowerGroup study for the fourth quarter on Employment Projection, it reflects the intention of 74% of Spanish executives to maintain (20%) or expand (54%) a team before the end of the year.
Hope in all regions and all sectors
The optimism is common to all geographies , all sizes of companies and all industries, but are hospitality (with an expectation of generating net employment of 58%), construction (50%) and manufacturing industry (45%), which led the recovery.
“It is excellent news that Spanish entrepreneurs plan to expand their teams by 32, or even 58% in some sectors, before the end of the year”, indicates Francisco Ribeiro, Country Manager of ManpowerGroup Spain .
Destruction of employment for a year and difficulties in finding talent
“However, we cannot ignore two realities associated with this figure: firstly, that construction, catering and the manufacturing industry are reversing in the fourth quarter a trend of job destruction recorded in the last four quarters of the study. And, secondly, that optimism has yet to be transformed into real job opportunities for professionals. We cannot forget that 6 out of 10 employers say they have difficulties finding the talent they need. ”
What they do is reverse a trend of job destruction in the fourth quarter of construction, restoration and the manufacturing industry
Not surprisingly, according to the ManpowerGroup study, hospitality and construction are two of the sectors that had been dragging a negative average in terms of their ability to generate net employment: less 11% in the hospitality industry on average in the period between the third quarter of 2020 and the third quarter of 2021 and minus 4% in construction.
Optimism, but less, in industry, energy and commerce
Huelva Comercio places sales of the rebates at 60% compared to other years although it expected 75%Huelva Comercio places sales of the rebates at 60% compared to other years although it expected 75%20M EP
It should be noted, from ManpowerGroup in a press release, also the optimism of other sectors of the Spanish economy , such as the manufacturing industry (+ 45%), mining, agriculture and energy (grouped in other industries, with 37% in expectation of net employment generation); commerce (+ 26%) and social activities, transport, logistics and communications (grouped in other services, with a 25% growth) and, finally, finance and business services, with 23%.
All of them had reflected a slow but constant improvement in the last year , although it is in the fourth quarter when their projection of job creation multiplies sharply.
Less enthusiasm in Andalusia, Extremadura and the Canary Islands
Regarding the level of optimism by Autonomous Communities, the regions with the highest unemployment rate are the least optimistic. Thus, the South zone, which includes Andalusia, Extremadura and the Canary Islands in the ManpowerGroup study , has a 33-point jump in growth expectation compared to the previous quarter, compared to the 43-point jump in the Central zone (Madrid, Castilla La Mancha and Castilla-León).
The Central zone is followed by the North zone (Basque Country, Cantabria and Rioja) with a jump of 38 percentage points and Northeast (Catalonia, Balearic Islands and Aragon), with 34 percentage points.
Spain jumps to the world top 10 in recruitment expectations
At an international level, Spain went from being eighth in the tail in the previous quarter (with 4% in terms of expectation of generating net employment) to being in the top 10 in the world in terms of recruitment projection (32%), in line with USA (48%), India (44%), Canada and Holland (40%), Mexico (39%) France (37%) and Ireland (34%), and at the same level as the United Kingdom (32%).
In fact, of the 43 countries and territories analyzed, only two entrepreneurs (Panama, -2%, and South Africa, -2%) are pessimistic about their ability to generate employment before the end of the year, according to the report.