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Unemployment among Spanish youth rises above 40%


Almanac

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It seems the situation in Spain is even worse than here.

Unemployment among young people in Spain rose above 40 percent in September as Europe’s former motor of job creation remained mired in recession.
Unemployment among people under the age of 25 climbed to 41.7 percent from a revised 40.9 percent in August, the European Union’s statistics office said today in an e-mailed statement
Spanish Youth Unemployment Exceeds 40 Percent (Update1) - Bloomberg.com
 


absconded

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398
Don´t read too much into it.

Their budget deficit is not 50%
They have infrastructure.
They have industry
They have tourism
They have agriculture
They have a fishing industry
They have Natural Resources
They have a functioning free health service
They jail corrupt politicians.

The dole "paro" entitlement in Spain is earned, so people generally work a bit, go on the "paro" a bit and then back to work. It´s a way of life, that´s why they always appear to have high unemployment.
20% of overall workforce, and 40% of younger workforce is not pretty, but they will get out of it faster than Ireland.
 

Eamonn76

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We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
 

absconded

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We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
Are you sure they want anything to do with Ireland that pi$$ed away it´s EuroMillions.

Spain has an economy. Ireland is a toxic basketcase. Completely different circumstances.
Spain has produced stimulus packages, and there´s no need for NAMA here apart from a few banks merging so far.
Irelands unemployment will be at 20% shortly too, devaluation of the € or not.
 

brughahaha

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We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
Not going to happen, the US and the UK have printed so much money and germany oooops I mean the ECB is terrified of hyper inflation ...... but vote yes for jobs eh :)
 

hiding behind a poster

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We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
Alternatively, we could actually do something about the chronic uncompetitiveness that successive Fianna Fail governments embedded into our economy - so that in future we can cope with an unfavourable exchange rate, while a favourable rate results in a trading advantage for us vis-a-vis domestic competitors in our main markets.
 

Eamonn76

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Alternatively, we could actually do something about the chronic uncompetitiveness that successive Fianna Fail governments embedded into our economy - so that in future we can cope with an unfavourable exchange rate, while a favourable rate results in a trading advantage for us vis-a-vis domestic competitors in our main markets.
Too little time for that. We need Euro devaluation to give us the breathing space to lower our costs. At the moment they are being lowered through rising mass unemployment.
 

hiding behind a poster

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Too little time for that. We need Euro devaluation to give us the breathing space to lower our costs. At the moment they are being lowered through rising mass unemployment.
On the contrary, costs in areas controlled by government remain prohibitively high, and what few improvements are coming are being dragged kicking and screaming out of the sectors in question. Devaluation wouldn't provide breathing space to achieve proper reform, but would instead be seized on as an excuse not to bother.
 

Almanac

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Don´t read too much into it.

Their budget deficit is not 50%
They have infrastructure.
They have industry
They have tourism
They have agriculture
They have a fishing industry
They have Natural Resources
They have a functioning free health service
They jail corrupt politicians.
They have a useless government.
 

Almanac

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We need to team up with Spain to get the ECB to devalue the Euro. Otherwise we may have 15% unemployment soon.
Unlikely to happen even if we joined up with Portugal and Greece since it will always be (Franco-) German needs which will determine the rate. This highlights one of the inherent flaws in a currency union.
 

stewiegriffin

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Really? Well that explains a lot. We have no excuse.
Well the masses over there will have one less thing to 'protest' about wont they ?( Plus they will be to 'stoned' to leave the house) .See, a crisis in a civilized country is just a crisis . A crisis in a backward country is a disaster . Thats the difference. you see?
 
Last edited:

absconded

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They have a useless government.
I presume you were being sarcastic. :p

Whatever the problems of Spain and it´s high unemployment. It´s quite obvious that it´s got everything in place for the recovery.
Neither do they really have to worry about paycuts. Anything between €1,000 & €1,500 is a good salary here outside of Madrid/Pais Vasco/Cataluña.
Thats the amount you need in Ireland before you start paying your mortgage thanks to Berts wage inflation campaign.


Originally Posted by absconded
Don´t read too much into it.

Their budget deficit is not 50%
They have infrastructure.
They have industry
They have tourism
They have agriculture
They have a fishing industry
They have Natural Resources
They have a functioning free health service
They jail corrupt politicians.
 

Truth.ie

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Oct 5, 2008
Messages
27,972
As Absconded has alluded to, it should be pointed out that the dole is only paid to those who have previously worked.
You work a year, you get 4 months dole. After 4 months..zilch.
No cradle to grave welfare in Spain, like in Ireland.
Also, the dole payments are rarely above 400 odd euros a month, with no rent allowance.
In ireland dole payments including rent allowance can reach up to 2000 a month.
In saying that, I would say the real level of unemployment in Spain is much higher than 20%. When you take into consideration the millions in spain who previously worked in the black economy, and are now not entitled to dole. Plus the unregistered immigrants (again millions) who are'nt entitled to dole. Plus the self employed, who aren't entitled to dole.
I'd say the true figure is close to 50%. but as the dole is not being paid to all 50% the taxpayers don't feel the burden as much as in Ireland.
 

absconded

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As Absconded has alluded to, it should be pointed out that the dole is only paid to those who have previously worked.
You work a year, you get 4 months dole. After 4 months..zilch.
No cradle to grave welfare in Spain, like in Ireland.
Also, the dole payments are rarely above 400 odd euros a month, with no rent allowance.
In ireland dole payments including rent allowance can reach up to 2000 a month.
In saying that, I would say the real level of unemployment in Spain is much higher than 20%. When you take into consideration the millions in spain who previously worked in the black economy, and are now not entitled to dole. Plus the unregistered immigrants (again millions) who are'nt entitled to dole. Plus the self employed, who aren't entitled to dole.
I'd say the true figure is close to 50%. but as the dole is not being paid to all 50% the taxpayers don't feel the burden as much as in Ireland.
On the subject of the black econony, the property boom in Spain was well funded by it. It was used as a mechanism for laundering money on a big scale.
Therefore, while personal endebtedness exists. It probably is not to the same extent as in Ireland. I don´t think that there was an enormous amount of ordinary people actually borrowed to speculate, they just put in money they officially didn´t have.
 

Almanac

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40% youth employment is not sustainable. That is way too much bottled up energy. Why should they sit around wasting their lives ?
How do they make ends meet if the dole is cut off after four months? Surely they can't all be relying on their parents?
 

Almanac

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Messages
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Their budget deficit is not 50%
They have infrastructure.
They have industry
They have tourism
They have agriculture
They have a fishing industry
They have Natural Resources
They have a functioning free health service
They jail corrupt politicians.
We have most of those, not that the infrastructure in Spain is all that great. It's still a relatively poor country. I have seen a good deal of it and many towns are in fairly shabby condition.
 

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