Skip to comments.'National disaster': Spain sees 500% rise in ‘very long-term unemployment’
Posted on 06/02/2014 4:30:44 PM PDT by Lorianne
Over one million people in Spain - the eurozone's fourth largest economy - haven't had a job since 2010, according to a report by Spain's National Statistics Institute. Although this number continues to rise, the government says it's witnessing recovery.
The numbers, published on May 23, show that very long-term unemployment in the country has risen by more than 500 percent since 2007. That year, about 250,000 Spaniards were unemployed after losing their job at least three years prior. That number drastically rose to 1.27 million in 2013 - 234,000 more than in 2012.
Generally, long-term unemployment includes jobless workers who have not been employed for more than 27 weeks. The recent study shows that this category in Spain has transformed to very long-term unemployment, with hundreds of thousands people without a job for at least three years, and is now represented by over 23 percent of the total jobless population in Spain.
The number is much higher than in other countries in the region at the same economic level, with another recent study showing that 26 percent of the country's population is on government benefits in Spain - the second highest total in the EU after Greece.
Still, politicians claim the nation emerged from years of on-and-off recession in mid-2013 and the situation continues to improve. On May 29, Spain reported its fastest economic growth since 2008, when the ten-year property bubble burst and prompted a financial crisis.
With millions of people searching for work in vain in the eurozone's fourth largest economy (behind Germany, France, and Italy), the International Monetary Fund said this week that the country's recovery is here to stay. Spain has turned the corner, the IMF's annual report on the country's economy stated.
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Spain is the poster child for government “investment” in “green energy”.
Socialism, big government, higher taxes, more muslims and more regulations...works!
Spain must be obamaramadingdongs example because he has us half way there by following Spain's lead!
Just like here...
If things don’t change, it’s coming here.
In Korean it’s something like:
We already generational welfare but the scale of it is growing fast
You got that right!
At least the soup kitchens will run on solar power, though. So there's that.
It sounds as if Obama isn’t the only one ending JOB LOCK.
What are they complaining about? I last went to Spain in 2010. Everywhere I went, employees at restaurants, hotels, stores, etc. were not Spaniards. They were all foreign to Spain. They have chronic unemployment of 30% in most places yet they keep their doors to illegal immigrants open.
No wonder the King is quitting. He’s got to get out of Dodge before the entire roof caves in. Off to the French Riviera or the Portuguese Algarve. Screw the peons.
I remember Babo. It was a cleaning product like Ajax.
We sure will need some to clean the white hut when the current occupant has been dethroned.
We have the same problem.There are *far* more families here today that haven’t worked for three generations than there were 40 years ago.
After all,they *did* invent the siesta.