Job satisfaction in Spain. Analysis of the factors in the economic crisis of 2008

The objective of this paper is to determine the main features of job satisfaction in the Spanish labor market of 2008, which was affected by a deep recession and instability. We differentiate between personal and job-related features to determine which ones explain job satisfaction better. For this purpose, we use the data from the 2007, 2008, 2009 and 2010 Quality of Labor Life Survey by the Ministry of Employment and Social Security in Spain. We show that job-related variables better explain job satisfaction through linear models (ANOVA). We also eliminate interactions between 14 job-related variables through a principal-component analysis. From the obtained factors, we propose a stepwise multiple regression analysis that explains how job-related variables affect job satisfaction. The factor 1 formed by activity, personal development and motivation is the one that better explains job satisfaction every year. We find that personal motivation has the highest influence on job satisfaction; wages affect job satisfaction the least during economic crises and economic growth. We also find that during an economic crisis job satisfaction is higher, whereas stability and wages are not higher, because jobs are less stable and wages are lower.