The measures taken to contain the coronavirus health crisis could lead to the loss of 60,500 direct full-time jobs in the city of Madrid during 2020, a figure that could exceed 83,000 if the confinement is prolonged for a further month. It is one of the conclusions of the study 'Effects of the COVID-19 crisis on the labor market in the city of Madrid', prepared by the Madrid College of Economists in collaboration with the Center for Economic Prediction (CEPREDE).

The deputy mayor, Begoña Villacís, and the delegate of Economy, Miguel Ángel Redondo, have presented this report on the economic and labor impact of the state of alarm in the city, which quantifies 108,000 jobs that would be at risk, including direct employment, indirect and induced, to lengthen the confinement. 18 percent of those jobs would correspond to self-employed workers. In relative terms, this effect would oscillate between 3 and 4 percent of the average annual employment, although in the affected months of April and May it would rise above 12 percent, mainly due to the effect of confinement.

In the study, the ERTE were not taken into account "because it is a temporary dismissal that in any case should later be recovered," said Begoña Villacís, who regretted that "the more time that passes, the more time it will cost to lift this." However, the vice mayor has stressed her intention to do "everything possible to prevent companies and businesses from closing."

Given that direct information on the real effects is not yet available, work has been done taking as a starting point the three measures.