Year of economic contrasts with skyrocketing prices, but with record employment

2023-12-30 20:57:04

Euskadi exceeds one million employed workers

May marked a milestone in the Basque labor market when the barrier of one million active workers in Euskadi was surpassed for the first time. In June, almost 400 more joined, but in the summer that psychological level was lost. However, it was surpassed again in the autumn and in November the historical maximum number of employed people was 1,011,231, with a record also in Gipuzkoa. The negative part, that last month there were still 108,152 unemployed registered in Lanbide. In Spain, records for active workers were also broken, with a maximum of 20,891,885 in July due to the rise of tourism. The debates about the strikes in Euskadi, the lack of profiles, absenteeism or the four-day day have also been present, in a year in which Gipuzkoa renewed the Metal agreement.

Olive oil, almost 80% more expensive

The year began with the elimination of VAT from January 1 on basic foods such as fruits, vegetables, milk or bread, which already had the reduced rate of 4%, and the reduction from 10% to 5% on oils and pasta. The measure, initially planned until June 30, failed to contain the prices of the shopping basket, which in February and March skyrocketed to rise by 16.5%, and although little by little they moderated, and the reduction of the VAT extended until December 31, has been maintained practically all year with increases above 10%. The undisputed protagonist of the increases has been olive oil, currently 78% more expensive than a year ago.

IBM chooses Donostia to install its quantum supercomputer

Donostia has entered the Quantum Champions this year and will launch an IBM quantum supercomputer in 2025, becoming the reference in southern Europe in this field of computing. The American multinational will assemble this groundbreaking technology in the future Ibaeta Quantum Pole in what will be its sixth machine worldwide, with an investment of 120 million.

Pello Rodríguez will take over from Iñigo Ucín in Mondragon

Pello Rodríguez will be the new president of the Mondragon Group, taking over from Iñigo Ucín, who will retire on August 1, 2024. The Corporation is embarked on a renewal process that will lead Adolfo Plaza to the presidency of Laboral Kutxa in January and which has placed Rosa Carabel as CEO of Eroski after the departure of Agustín Markaide.

Goodbye to Nicolás Redondo

Just beginning the year, on January 3, the historic former general secretary of UGT Nicolás Redondo Urbieta died at the age of 95. Born in Barakaldo, he led the socialist union from 1971 to 1994. He was also a deputy of the PSOE between 1977 and 1987. On December 14, 1988, together with CC OO, he led the largest general strike of democracy to date against the labor reform and the youth employment plan of the Government of Felipe González.

Tax on the rich in Gipuzkoa

The Tax on Large Fortunes promoted by the central Government will also be applied in Gipuzkoa and will be complementary to the already current Patrimony Tax. PNV and PSE achieved the vote they were missing ‘in extremis’ with the support of Podemos. The year has also been marked by other controversial taxes such as banking or energy taxes.

Treasury bills and low profitability of deposits

The increase in interest rates by the ECB, which reached 4.5%, was quickly reflected in the cost of all types of credit and mortgage loans – the Euribor reached 4.16% in October , its highest since 2008 -, but not so in the remuneration that the banks offered to their clients’ savings, which until autumn was practically zero. For this reason, many began to direct their money towards Treasury Bills – up to 17,000 million euros from individuals were allocated to these products – which also in their October auctions offered an interest of 3.87% for 12 months and 3.83% at 6 months, its highest returns for 11 years.