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Spain / Youth unemployment at record 56.1%

Youth unemployment in Spain has reached a new high of 56.1%, a quarter of the 3.5 million under-25s jobless across the eurozone, according to the latest Eurostat figures.

The number of young Spaniards belonging to what has become known as the lost generation is up 2% since June to 883,000. Only Greece has a higher percentage of young people out of work, at 62.9%.

Among adult males, Spain has the highest unemployment at 25.3%, higher even than Greece. Despite the government’s claims that the worst has passed and that employment reforms will encourage firms to hire, the figures suggest it will be a long time before any upturn in the economy is reflected in a declining jobless rate. With the holiday season coming to a close, the numbers are likely to rise as workers on seasonal contracts go back on the dole.

With close to six million Spaniards out of work, unemployment is so entrenched that there was no political reaction to the latest figures, neither from government nor the opposition. Indeed, mentioning the economy at all has become virtually taboo across the political spectrum. Meanwhile, Spaniards and recent immigrants are deserting the country in search of work, with 500,000 leaving in 2012, 60,000 of them Spanish nationals, most of them to Latin America and Europe.

Chosen excerpts by Job Market Monitor. Read the whole story at 

Guardian

via Spain youth unemployment reaches record 56.1% | Business | The Guardian.

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Discussion

5 thoughts on “Spain / Youth unemployment at record 56.1%

  1. Wow. Thanks for sharing all of these useful links–I just got to Spain for study abroad, and we’ve already begun discussing the economic crisis in class. These will definitely add to the discussion.

    Posted by michaelawanders | September 3, 2013, 4:01 pm

Trackbacks/Pingbacks

  1. Pingback: ‘Spain’s recovery is a scandal’ says Austrian MEP | Job Market Monitor - September 12, 2013

  2. Pingback: Youth unemployment around the world – Infographic | Job Market Monitor - October 10, 2013

  3. Pingback: Canada – Aging population could have a positive effect on the labour market outcomes of youth research finds | Job Market Monitor - June 21, 2014

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