Post by account_disabled on Feb 25, 2024 5:38:16 GMT
Pay more unemployment, but for less time . This is what the Bank of Spain proposes in the face of a "persistently low" employment rate in Spain and with the aim of improving "the return to employment" of citizens. The Bank of Spain has analyzed in its 2022 annual report , published this Wednesday, May 10, the current situation and the possible future of the Spanish economy through 4 chapters: The resistance of the Spanish economy in an adverse and uncertain context. Challenges and opportunities to grow and converge with the EMU [Economic and Monetary Union] in a robust and sustainable way. The current episode of inflationary tensions in the euro area, the monetary policy response and its effects. Spain and the EU facing the energy crisis: short-term adjustment and pending challenges.
In the document, the entity gives some of lime and others of sand regarding the economic situation and evolution and the Government's decisions and touches on issues such as inflation , the energy crisis , the reduction of working hours and employment and unemployment . The Bank of Spain affirms that the authorities' measures to address the energy Country Email List crisis "have helped reduce inflation and boost economic activity", but points out that these have not been "focused on the most vulnerable groups", which "it would have been more effective to mitigate, at a lower fiscal cost, the impact of the inflationary crisis." In addition, it recognizes that job creation "has been showing high dynamism" and the temporary employment rate has been reduced, but mentions the decrease in the average weekly working day—it predicts that this could be reduced by almost three hours in 2033—and issues several warnings.
The first The containment of business margins and labor costs will be essential to avoid significant second round effects on inflation." Another, on the aging of the country: "The profound demographic change in which the population is immersed will mean, in the coming decades, a notable increase in pension spending . " Why business margins rise in the middle of the crisis and your salary does not Along with the "large room for improvement" to boost innovation, "a persistently low employment rate is the other major factor that explains the lack of convergence of the Spanish economy to the level of per capita income of the EMU," he also observes. The banking entity warns of the "high structural component" that the high unemployment rates in the country have shown over the last decades and concludes that "it is essential to review the role of active and passive employment policies" , especially in regarding "making the protection of the most vulnerable groups compatible with appropriate incentives for the job offer.