Job vacancies increase by 600, but some industries show worrying decline.

According to data provided by the National Statistics Institute (NSI), the third quarter of 2023 brought with it an increase in job vacancies of 600 over the previous quarter, totaling 40,000. However, detailed analysis has revealed a decline in some sectors, raising questions about labor market dynamics.

Significant growth in some areas

According to the NSI, the sectors with the highest vacancy rate in Q3 2023 were financial intermediation and insurance (1.54%), entertainment, cultural and recreational activities (1.51%), and electricity, gas, hot water and air conditioning supply (1.48%). These sectors recorded significant increases compared to the previous quarter.

Worrying falls in other sectors

However, there was a worrying decline in manufacturing, which accounted for more than a quarter of total job vacancies, at 0.96%. The budgetary sector also saw a decrease, accounting for 20.5% of total job vacancies.

Impact on employment in various sectors

The third quarter of 2023 brought significant changes in various fields of activity. Wholesale and retail trade, together with motor vehicle and motorcycle repair, saw the largest increase, with 1,100 vacancies. In contrast, transport and storage saw the most significant decrease, both in rates and vacancies, with -0.60 percentage points and -1,600 vacancies.

Short and long-term outlook

Analyzing the changes in the third quarter of 2023 compared to the same period of the previous year, it can be seen that production and supply of electricity and heat, gas, hot water and air conditioning saw significant increases, while public administration and support service activities saw the largest decreases.