Human Capital Notes
Human capital and employment in times of crisis (I)
Abstract
With nearly two million jobs destroyed since mid-2007, Spain is the European country which has witnessed the greatest loss of jobs since the crisis began, slightly surpassing the data recorded for both the EU-27 and EU-15. What impact has human capital had on this process of job destruction? According to this note, the differences in unemployment by educational level and age have increased with the crisis. Thus, a higher level of education and a higher degree of experience mean a greater chance of obtaining a job, as well as determining access to more permanent posts. This is confirmed by data such as the following: in the last three years more than a third of temporary jobs of workers with a low educational level have been destroyed, compared with 12.4% of temporary jobs occupied by university students. Among other issues, this human capital note also indicates that male unemployment has soared because of the construction crisis and as result, gender differences have diminished. Human capital and employment in times of crisis (II)