ECONOMY

Worst November for hirings-layoffs balance

worst-november-for-hirings-layoffs-balance

Last month presented the worst November data in terms of the hirings and layoffs balance since figures started being kept 21 years ago, as the gradual withdrawal of the economy’s support measures predictably led to the loss of some 80,000 jobs.

The statistics from the Labor Ministry’s Ergani database leave no margin for comfort, even though November has always shown a deficit in salaried employment. This year departures were much greater than hirings, resulting in a net sum of 79,129 jobs lost. In November 2020 the jobs deficit had amounted to 29,933, but back then the measure of dismissal bans applied. The previous low for November had been in 2011, with 55,855 jobs lost.

This year November saw twice as many layoffs as November 2020, though hirings were also significantly higher. Even so, the unexpectedly positive course of hirings in the rest of the year means the overall balance for the first 11 months of 2021 has remained positive.

Hiring declarations amounted to 202,790 last month, while departures came to 281,919, of which 92,390 were voluntary. It follows October’s net losses for salaried employment that had come to 70,048 jobs lost. In November 2020, with the country in lockdown for almost all of that month, hirings had numbered 119,575 and departures had reached 149,508.

Given the local labor market’s dependence on tourism, it is no wonder the accommodation sector and the food service industry reported the loss of 52,692 and 24,591 jobs respectively last month. A distant third was the sector of rental and leasing activities with 2,848 fewer jobs, followed by retail commerce with 2,613 jobs lost and travel agencies with a contraction of 2,568 jobs.

By contrast, there was a significant increase in jobs in the education sector, with a net surplus of 8,434 jobs, ahead of the food industry with 1,343 jobs added and postal and courier activities with 871 jobs added.

In the year to end-November the number of hirings declared reached 2,202,421, while departures amounted to 2,066,741. That brings the local labor market to a net surplus of 135,680 jobs over the first 11 months of the year.