Job Market Monitor
Spain
Spain enters in recession helped by austerity
Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond. It is the second recession in just over two years for the euro zone’s fourth largest … Continue reading
1/3 of unemployed in eurozone are from Spain
Fears for Spain’s ‘imploding’ economy grew yesterday as figures revealed that one in four people in the country are out of work. The figure – 24.4 per cent – is so high it means that one jobless person in three inside the eurozone is Spanish. Unemployment in the country now tops 5.6million – its highest … Continue reading
Spain | Unemployment at record level
New figures show that Spanish unemployment levels have hit record levels, with nearly a quarter of the labour force unable to find work. The news comes hours after the country’s credit rating was cut two notches to “BBB+” by ratings agency Standard & Poor’s. According to the new data released on Friday, unemployment levels hit … Continue reading
What is the price to save the Euro : Isn’t Worth Saving writes Matthew O’Brien
Welcome to life in a suboptimal currency area. After all, countries that share a currency also share monetary policy. If they don’t share fiscal policy too — that is, there is no centralized treasury — they can get into trouble. Just ask Europe. But as Christian Odendahl at The Economist points out, this also means that … Continue reading
Crazy Statistics about The European Crisis
doesntevenmakesense.com has gathered the following statistics about the European economic crisis that are ‘almost too crazy to believe….’ Greece #1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row. #2 The average unemployment rate in Greece in 2010 was 12.5 percent. During 2011, the average unemployment rate was 17.3 … Continue reading
Spain | Carrefour to hire 3,000
Carrefour, Europe’s biggest retailer, plans to take on 3,000 new employees in Spain in 2012 with the opening of new shops, a newspaper said on Friday, citing the head of the company’s Spanish activities, Rafael Arias-Salgado. Newspaper Cinco Dias said the group planned to add 70 to 75 supermarkets to its 180 Carrefour Market and … Continue reading
OECD | Unemployment rate was broadly stable 8.2% since January 2011
The OECD area unemployment rate was 8.2% in February 2012, and has remained broadly at this level since January 2011. But the euro area unemployment rate rose by 0.1 percentage point (for the eighth consecutive month) to 10.8% in February, maintaining a record high since the start of the global financial crisis. The unemployment rate … Continue reading
The Euro Crisis Rides Again
After a quiet-ish few months, Euro panic came back in a big way on Tuesday. Spanish stocks hit a three-year low. Spain’s bond yields crept back up above 6 percent. It wasn’t any better in Italy, whose stocks fell 5 percent. That’s a lot of bad news on a day with seemingly no new news. … Continue reading
Germany | Low Youth Unemployment
The protracted European debt crisis and austerity measures have made career prospects for many of the continent’s youth bleaker than ever. In Spain and Greece, nearly half of all those under age 25 are unemployed. But … that’s not the case in Germany. In stark contrast, Germany’s youth employment is the highest in Europe, with … Continue reading
More Than Half Youth are unemploymed in Spain and Greece
The unemployment rate among Spain’s under-25s rose to 50.5pc in January, and to 50.4pc in Greece in December, according to the latest available data from Eurostat, the European Union’s statistics office. It compared with an average eurozone youth unemployment rate of 21.6pc. One of the lowest rates of youth unemployment is in Germany, where it … Continue reading
European unemployment | Highest in 14 years and Youth Hit Hardest
“European unemployment increased to the highest in more than 14 years in February as companies from Spain to Italy eliminated jobs to weather the region’s crisis” writes Bloomberg. The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011. The EU27 unemployment rate was 10.2% in February 2012, compared with 10.1% in January. It … Continue reading
Spain : Safety net frays as care workers go unpaid, regions revolt, but more cuts demanded
Spain’s safety net frays as care workers go unpaid | Reuters Reteurs: Mercedes Garcia, the director of a residency for severely mentally disabled adults, has a crisis in her kitchen. Two caterers have been supplying and preparing food for the centre’s 46 patients for free for almost a year; the other 18 recently decided they’d had … Continue reading
Job Gap | Spain | Cost of hiring has risen 24% in recent years
Spain’s high unemployment rate of around 23% means many Spaniards, young people in particular, are leaving the country to find work elsewhere. One popular destination is Germany, where the jobless rate is under 7%. But starting afresh in a new country is challenging. Munich’s airport shuttle bus is dropping off newly arrived passengers in the … Continue reading
Europe | Unemployment rises to record 10.7% in Euro Zone and above 20% for Youth and in Spain
Europe’s leaders travel to Brussels on Thursday, hoping to chart the continent’s way back to growth as figures show unemployment in the 17-country eurozone has spiked to its highest level since the euro was established in 1999. While the two-day summit is for once taking place amid relative calm on financial markets, Europe’s population is … Continue reading
Labour reform in Spain: Spanish practices | The Economist
SPAIN’S new government is learning to be wary of microphones. Mariano Rajoy, the prime minister, was caught by one claiming his labour reform would provoke strikes. Luis de Guindos, the economy minister, was overheard calling it extremely aggressive. When the reform was unveiled in a decree of February 10th, expectations were of a radical simplification … Continue reading
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