Data for jobless claims and Social Security filings from April remain bad despite a 6,632 drop in jobless claims and a 16,549 increase in contributions, which are a main indicator used to track new jobs.
Spring is the best time for job creation in Spain. By way of comparison, this time last year jobless claims went down by 64,309 and Social Security contributions rose by 81,447. Further, non-seasonal jobs fell by 75,000 not counting statistical distortions caused by work contracted for festival days.
Social Security contributions, which again are the best method for measuring jobs data, has dropped by 552,122 workers since a year ago and 310,843 in the Q1 2012. Official predictions indicate that 600,000 workers are likely to lose their job in 2012, and this number could rise if the summer is not productive.
