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One Quarter Of All Spanish Workers Without A Job: Female Unemployment In Ceuta Region Hits 57%

Tyler Durden's picture




 

One in four Spaniards are now officially out of work - well over double the euro-area's average 11.4% rate. This is the highest rate of unemployment since the Franco dictatorship ended in the mid-1970s as 5.8 million now stand idle. Perhaps more stunning is the fact that eight of the bailout-nation's regions have higher unemployment rates than the national average with Cueta at a stunning 41.03% (with women's unemployment rate in that region an almost incomprehensible 56.92%)!! The YoY increase of almost 800,000 people unemployed leaves 1.74 million households with no members employed. As one would expect, loan delinquencies are also surging as Caixabank just almost doubled its pool of bad loans in the third quarter. While Rajoy fiddles...

Spain's Unemployment Rate Hits 25.02% - the highest since the 1970s!

 

 

and across the regions (far right hand column) - the rate is even higher in many cases!

 

with women's unemployment (far right column) reaching a stunning 56.92% in Cueta region!

 

Source: National Institute of Statistics

 

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Fri, 10/26/2012 - 08:58 | 2921087 surf0766
surf0766's picture

socialism works!

Fri, 10/26/2012 - 09:24 | 2921173 Unprepared
Unprepared's picture

"Time to regain control over Ceuta, Melilla and Canary Islands."

Morocco.

Fri, 10/26/2012 - 09:30 | 2921193 GetZeeGold
GetZeeGold's picture

 

 

Go green....it's the future....forward hoe.

 

Fri, 10/26/2012 - 09:36 | 2921207 Popo
Popo's picture

I think you meant, "Forward, ho".  After all, the world's oldest profession is always an option.

Fri, 10/26/2012 - 10:00 | 2921273 AvoidingTaxation
AvoidingTaxation's picture

An easy war for Spain and his allies. For a fascist Spain with an intelligent leader it could be a chance.

Fri, 10/26/2012 - 09:24 | 2921174 Gully Foyle
Gully Foyle's picture

surf0766

Two things.

First show me a Capitalist state which isn't in trouble.

Second, everything worked fine UNTIL TPTB started breaking shit down for resale.

The question is were so many states really that fucked up, or did TPTB rig the game to manipulate events in a direction they desire?


Fri, 10/26/2012 - 09:26 | 2921179 flacon
flacon's picture

First show me a Capitalist state. Period. 

Fri, 10/26/2012 - 09:31 | 2921196 GetZeeGold
GetZeeGold's picture

 

 

Nailed the landing...

Fri, 10/26/2012 - 10:05 | 2921276 Radical Marijuana
Radical Marijuana's picture

Yes, it bugs me how people

keep blaming "capitalism."

To repeat the fundamental truisms:

Fascism is capitalism plus murder.

Plutocracy is capitalism plus fraud.

The real system is capitalism, BUT,

with both murder and fraud added,

therefore, that is fascist plutocracy.

THAT is what controls Spain today,

& that is what controls almost all!

Fri, 10/26/2012 - 13:04 | 2921980 Reptil
Reptil's picture

add some paedofile networks to keep the politicians in check and you got a winner.
https://www.youtube.com/watch?v=e6sTCIJLEKI

Fri, 10/26/2012 - 10:31 | 2921389 Lebensphilosoph
Lebensphilosoph's picture

Correction: the scam worked fine until the day came for someone to collect the debt.

Fri, 10/26/2012 - 13:36 | 2922110 silverserfer
silverserfer's picture

Anarchy is the only way to run a geographical area. Gengis Kahn Libertarian John Galt freedom slave masters unite! eat the poor, put the women to "work" Roads will be made of the crushed bones of the socialist masses. Bring back the good old days of pillage thy neighbor.  

Fri, 10/26/2012 - 10:13 | 2921326 Offthebeach
Offthebeach's picture

Looks like SpainFedgov needs to back student Marxist Theater Lighting Afro pre-Law majors into doctoral degrees way more. Get that labor force participation number down. Or invade....er....liberate some turd world hell hole...like....um... France.

Fri, 10/26/2012 - 11:31 | 2921660 _ConanTheLibert...
_ConanTheLibertarian_'s picture

until it spectacularly fails

Fri, 10/26/2012 - 08:58 | 2921089 Shizzmoney
Shizzmoney's picture

At least there is always prosititution.

Fri, 10/26/2012 - 09:02 | 2921105 HD
HD's picture

If 57% of Spanish women turned to the oldest profession it would not be very lucrative...talk about not having pricing power.

Fri, 10/26/2012 - 09:14 | 2921144 Lohn Jocke
Lohn Jocke's picture

Thinking of starting my own business. Pimping and price fixing. Like a London Banker except that I have a huge hat with a peackock feather in it.

Fri, 10/26/2012 - 09:25 | 2921177 malikai
malikai's picture

A thought experiment yields the question: Which country do you set up shop in?

Greece, Spain, or do you wait for France?

Fri, 10/26/2012 - 09:37 | 2921211 HD
HD's picture

Depends on the clientèle.

 

 France - for the simple kiss.

 Spain - for those who like to shake the maracas

 Greece - well, if you're gonna go Greek...

Fri, 10/26/2012 - 09:27 | 2921183 Frozen IcQb
Frozen IcQb's picture

Keep in mind that the 2&20 fee structure would not work. Fee for service and performance based compensation wouldn’t either. Your best bet for income is to get paid based on ass under management- IMHO

Fri, 10/26/2012 - 09:35 | 2921200 malikai
malikai's picture

A good pimp never forgets the rule:

"Bitch better have my money. Not half. Not Some. But all my money. Through rain, sleet, or snow.. Bitch better have my money."

Exhibit A: http://www.youtube.com/watch?v=cnuodLiCGzY

Fri, 10/26/2012 - 10:13 | 2921327 GMadScientist
GMadScientist's picture

Don't forget your gold teefus and pinkie ring there, Huggy Bear.

Fri, 10/26/2012 - 09:22 | 2921167 Gully Foyle
Gully Foyle's picture

HD

That is a big rise in Marriage. That is the "oldest profession" for women to raise their standard of living.

Fri, 10/26/2012 - 09:48 | 2921235 Radical Marijuana
Radical Marijuana's picture

Yeah, considering the statistics generally say that more than half of young people, and more than half of the women, can NOT find work, then ability of young women to find work must be some multiplication of those factors.

If something like 80% of the young women who would like to work can NOT find any employment, then turning to prostitution is probably something that has already saturated its market.

Fri, 10/26/2012 - 10:32 | 2921400 Lebensphilosoph
Lebensphilosoph's picture

Hunting?

Fri, 10/26/2012 - 11:25 | 2921633 Overfed
Overfed's picture

Competition would drive the price way down!

Fri, 10/26/2012 - 08:59 | 2921091 malikai
malikai's picture

Transient..

Fri, 10/26/2012 - 09:01 | 2921094 lolmao500
lolmao500's picture

Time for Spain to break up...

In WTF news...

http://themoderatevoice.com/165468/cnbc-executive-kevin-krims-two-young-kids-killed-by-nanny-yoselyn-ortega-in-upper-west-side-apartment/#yOIz6SmAhvvpaJot.99

CNBC Executive Kevin Krim’s Two Young Kids Killed by Nanny Yoselyn Ortega in Upper West Side Apartment


Fri, 10/26/2012 - 09:25 | 2921175 Gully Foyle
Gully Foyle's picture

lolmao500

You want to bet he was fucking the Nanny and broke it off?

Fri, 10/26/2012 - 09:31 | 2921194 lolmao500
lolmao500's picture

I'm gonna bet she was on anti-depressants.

Fri, 10/26/2012 - 11:26 | 2921635 Overfed
Overfed's picture

Both.

Fri, 10/26/2012 - 10:34 | 2921414 pazmaker
pazmaker's picture

extremely tragic...sad.....another reason to raise your own kids and get by on one income if your married. 

Fri, 10/26/2012 - 11:26 | 2921638 Overfed
Overfed's picture

That's not the American dream. /s

Fri, 10/26/2012 - 09:00 | 2921096 Vincent Vega
Vincent Vega's picture

Coming soon to a country near you. Perhaps Q1 2013. So sad.

Fri, 10/26/2012 - 09:03 | 2921099 jover
jover's picture

How will this ever get fixed?

Fri, 10/26/2012 - 09:09 | 2921128 lolmao500
lolmao500's picture

It won't. Not with their current mindset and failed economic policies anyway.

Fri, 10/26/2012 - 09:53 | 2921252 Radical Marijuana
Radical Marijuana's picture

Do not blame Spain, and do not blame any other straw man, like some superficial ism ... The banksters have dominated the world system for a long, long, long time!  The Spanish were set up, the same as practically everybody else, by those who were the best at being dishonest, and backing that up with violence.

There is nobody anywhere that can fix problems generated by having the trillionaire mass murders arrange things to benefit them. There is not even the slightest hint of an adequate set of policies to cope with that reality!

Fri, 10/26/2012 - 09:10 | 2921132 LongSoupLine
LongSoupLine's picture

Don't worry, all Spain has to do is say "pretty please" and Draghi will fix everything...

 

If you believe that, I have a vintage 2007 CDS to sell you.

Fri, 10/26/2012 - 09:05 | 2921104 TideFighter
TideFighter's picture

Is she married to a NYPD cop? 

WTF is in NYC water? Move to Detroit, they have safe water.

Fri, 10/26/2012 - 09:05 | 2921112 Bubble
Bubble's picture

http://en.wikipedia.org/wiki/Ceuta they don't count. That shouldn't distract of course from the terrible situation there.

Fri, 10/26/2012 - 09:06 | 2921119 GubbermintWorker
GubbermintWorker's picture

Chill, take a siesta.

Fri, 10/26/2012 - 09:07 | 2921123 Hedgetard55
Hedgetard55's picture

They can say gracias to Uncle Ben for driving their cost of living through the roof.

Fri, 10/26/2012 - 09:11 | 2921135 Grimbert
Grimbert's picture

I saw the graph and thought it was a map of the bottom of Spain. Have to check back in a few years and see if the line reaches Barcelona. 

Fri, 10/26/2012 - 09:12 | 2921138 timbo_em
timbo_em's picture

So with a population of 47 million and 22 million people in working age, one quarter unemployed and 2.6 million public sector workers who exactly is going to pay the bills, repay the debt and save the banks?

Fri, 10/26/2012 - 09:55 | 2921258 HungryPorkChop
HungryPorkChop's picture

Mitsubishi DiamondStar will take care of this.  After all they have the world's biggest and fastest printing press.  Shhhh, just don't tell Ben..

 

http://www.gizmag.com/go/4540/

Fri, 10/26/2012 - 09:13 | 2921140 Jason T
Jason T's picture

maybe they have become so self sufficient with all their green energy, they don't need to work or borrow money and are just saying the hell with their loans. Maybe this is positive.

 

 

Fri, 10/26/2012 - 09:18 | 2921156 kito
kito's picture

not a big deal, all part of dalios beautiful deleveraging.................once all of those spainards are deleveraged, they can start handing out the credit cards and 0 percent mortgages again....patience..patience........its only cyclical.........

Fri, 10/26/2012 - 09:29 | 2921185 Abraxas
Abraxas's picture

That's right, kito. Pit and the pendulum, that's where we are. (we are the guy strapped down on the table underneath the pendulum)

Fri, 10/26/2012 - 10:13 | 2921325 Ricky Bobby
Ricky Bobby's picture

"Beautiful Deleveraging" .... err err "Let them Eat Cake"

Fri, 10/26/2012 - 10:22 | 2921363 Two dogs
Two dogs's picture

That's outrageous! I can only assume you have limited experience of Spanish cake.  I wouldn't let my dogs eat it.

Fri, 10/26/2012 - 09:18 | 2921157 machineh
machineh's picture

If Africa is shaped like a horse's head, Spain is a perfect cow's head.

Don't them ears just kill you?

Cabeza de vaca, bItCHeZ!

Fri, 10/26/2012 - 09:28 | 2921168 All_Is_Well
All_Is_Well's picture

Espana se Atornilla! ..... That's what I get when I type in SPAIN IS SCREWED! on Google translate.....

Fri, 10/26/2012 - 09:25 | 2921169 Two dogs
Two dogs's picture

The good news is that it has started to rain at last, here in Andalucia.  So at least we should be able to grow enough to eat.

Fri, 10/26/2012 - 11:39 | 2921699 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Well, you just recently had a flash flood. That doesn't really help in growing food.

Fri, 10/26/2012 - 09:27 | 2921180 plaspotje
plaspotje's picture

simple fix for europe,,  A stop ffffing with iran  so oil prices will drop  and peg that euro 1 to 1 to the dollar and start exporting and  bring in the tourists   problem solved ,,  well  almost , few minor details  like  kill the bank and investment bank  ceo's  ext ext .

Fri, 10/26/2012 - 09:31 | 2921195 ThirdWorldDude
ThirdWorldDude's picture

Thanks for this post, TD and ZH! One look at the map explains why it's been so peaceful in Euskadi, as the majority there still have their jobs and are not destined to "shop" their food in supermarkets' garbage containers.

 

If Rajoy keeps on fiddling, expect the real iredentist talk & action to ensue as soon as the green and successively the blue wave reach the Pyrenees...

Fri, 10/26/2012 - 09:44 | 2921225 bentaxle
bentaxle's picture

Let's look at this another way. IF you GOTTA job in Spain, raise your hand. Thanks

Fri, 10/26/2012 - 10:14 | 2921332 Two dogs
Two dogs's picture

You have to bear in mind that the figures quoted are for those who are registered as unemployed.  

Some people will not have a job and not be be registered as unemployed.  Some people will have a job and be registered as unemployed.  

Maybe thes two groups cancel out - or maybe not.  Who knows?  Whatever,  having a "job in Spain" is not such an easy question to answer - especially in rural areas.

Fri, 10/26/2012 - 10:02 | 2921282 Yen Cross
Yen Cross's picture

If Spains employment numbers are done BLS style, then the true number should be closer to 40%.

Fri, 10/26/2012 - 10:08 | 2921309 overmedicatedun...
overmedicatedundersexed's picture

this is a failure of a socialist gov in Spain. but we still have fu*ks here saying it is capitalism..no it is central planning writ large across the west- EU to group of 7 to bis to IMF to the big daddy Fed..the elite care not for your ism. Just to hang on to control to avoid a french revolution with modern executions via explosives shells als North Korea.

Fri, 10/26/2012 - 10:10 | 2921316 GMadScientist
GMadScientist's picture

"Socialists" like...Banco Santander.

LOL

Fri, 10/26/2012 - 10:15 | 2921333 overmedicatedun...
overmedicatedundersexed's picture

gmad, the dumb bitch who looks a forest and sees one tree. miss the big picture mutch? ignore the regulators & the laws and regs  from spain's socialist leaders  and the EU ..do you even understand central planning is not wood work? 

Fri, 10/26/2012 - 10:16 | 2921339 Negro Primero
Negro Primero's picture

Interactive Map:  http://delgado.tv/tasa-de-paro/

Fri, 10/26/2012 - 10:39 | 2921396 THE DORK OF CORK
THE DORK OF CORK's picture

A one job household was normal in Catholic countries at one time - it is a more efficient use of resourses.

 

Spains major problem like all PIigs is a non national unit of account........in many ways they are more wealthy then the North which has exported its capital base to both the Brics and peripheral Europe since the early 80s.

The North is left with claims on the productive capacity of the south which now does not exist (in Euro terms) at these high oil prices.

The South has some roads - not a good investment , but better then nothing.

Spain is a unique PIig given the scale of its rail investments which can now only be used to the max with a return to the peseta.

The North will & is seeking to destroy this capital base to maintain its relative wealth.

 

You can clearly see this poor use of the remaining capital base when you look at the small island of Ireland and its tale of 2 currencies / transport patterns.

Both NIR & IR are much alike in organisation and share many functions yet.........

The strange increase in Northern Irish rail relative to its southern neighbour continues.

April – June figures
8% rise in weekly average rail passenger miles when compared to the same period last year. (now 4.08 million a week)
10 % rise in weekly rail passenger journeys (now .22 million a week)
10 % rise in weekly average rail receipts (now £.67 million)

Meanwhile down south CIE (state rail and bus company) has delayed its financial results for some time now….
It has recently received emergency subsidy of 36 million euro from the central goverment ……..
http://www.dttas.ie/pressRelease.aspx?Id=603

 

Fri, 10/26/2012 - 10:58 | 2921520 redd_green
redd_green's picture

And things are better in the USA?   http://www.shadowstats.com/alternate_data/unemployment-charts   NOT!

 

Fri, 10/26/2012 - 11:05 | 2921545 Vince Clortho
Vince Clortho's picture

If those are the "official" numbers, I wounder what the real numbers are.

Fri, 10/26/2012 - 11:18 | 2921560 THE DORK OF CORK
THE DORK OF CORK's picture

Spains oil consumption

August 2007

Gasoline : 0.17 MB /D

Jet ker.  :  0.13 MB /D

Diesel    :  0. 50 MB /D

Total products : 1.57 MB /D

 

August 2012 :

Gasoline : 0.13 MB /D

Jet Ker    : 0.13 MB /D

Diesel     : 0.46 MB /D

Total products : 1.30 MB/ D,

 So total demand has declined by 270,000BPD yet Jet fuel use has not decreased despite the existence of the Barcelona /Madrid high speed line............

These are problems of a non national economy.

The Euros function it seems is to bail out both BMWs execs + oil merchants.

So in the strange world of the Euro you can afford to pay for Jet kerosene but not the labour required to maintain and run rail lines.........in Spain they just build the rail stuff and forget about it.

The euros core function from the very start is the export of core european capital to the Brics so that the slave owners of Europe can earn a higher slave arbitrage from this "trade"

Fri, 10/26/2012 - 11:28 | 2921646 Two dogs
Two dogs's picture

"yet Jet fuel use has not decreased despite the existence of the Barcelona /Madrid high speed line..."

I think the price of the rail-fares may have a lot to do with that.

Fri, 10/26/2012 - 11:51 | 2921743 THE DORK OF CORK
THE DORK OF CORK's picture

Exactly two dogs.

But why ?

Rail = higher maintenance , labour costs / lower fuel input.

Aviation = higher fuel input / lower non union labour costs

This leads to a export of hard $ currency .......which leads to a fall of domestic demand.........

Its not rocket science.

The euro is not a currency , its a pure yield device used to extract core labour and real physical capital from its vassal users.

I use the rail example as it is so easy to illustrate but this dynamic is happening throughout the Eurozones sectors.

They build these capital projects with bank credit and now don't have the labour credits to use the stuff.

 

Fri, 10/26/2012 - 12:07 | 2921820 Two dogs
Two dogs's picture

It's certainly a wierd combination of tax-breaks/incentives/grants etc that can result in it normally being cheaper to get around Spain by air rather than train.  Especially when a lot of the new high-speed network has been funded by EU grants.

Fri, 10/26/2012 - 15:32 | 2922450 malikai
malikai's picture

Note that the vast majority of air travel in all European countries is international travel departing or terminating in the country. This will naturally be less volatile regardless of the country's domestic economic conditions, as you have airlines like Iberia which has a large long-haul hub in Madrid. There are also those operators who sometimes like to stop at airports enroute with cheap fuel/landing fees to take advantage of the price, notable here are various cargo carriers without large fleet contracts.

Fri, 10/26/2012 - 11:15 | 2921592 GreatUncle
GreatUncle's picture

For decades now societies expanded and pretended to create needed items etc. creating work for those who became obsolete by new and better efficiencies.

You really need this or that you know and there is no way for you to do it unless you pay somebody! That's the sales pitch.

Looks like the concept is rapidly becoming a fallacy in fact driven hard the other way if you contract an economy fast enough because it makes the new improved efficiencies MORE VIABLE to maintain profits.

The level of cutting in Spain now drives the need to implement the most modern efficiencies and I am not suggesting spending more will get you out of the s%^t either. Next step a Greek tradegy with an estimated defecit of 136% of GDP debt by 2020. Not the 120% anymore.

Fri, 10/26/2012 - 11:21 | 2921614 DeliciousSteak
DeliciousSteak's picture

The higher female unemployment is very understandable because women are more likely to be employed in public jobs than men. When the economy goes down the shitter and the cuts on public jobs start, female unemployment rises.

Fri, 10/26/2012 - 12:26 | 2921880 Don Diego
Don Diego's picture

Ceuta is a Spanish city in northern Morocco and most women there in working age are Moroccan women that shit 6 bats each and pretend to be unemployed in order to draw benefits. Those women are not unemployed they are just raising the next generation of invaders.

 

Fri, 10/26/2012 - 12:36 | 2921896 Two dogs
Two dogs's picture

bat-shit ???

". . women that shit 6 bats each . ."

Fri, 10/26/2012 - 14:29 | 2922284 Don Diego
Don Diego's picture

inside joke: if you put wings to my baby boy you get an angel, if you put wings to one of those babies, well, you get a bat.

Fri, 10/26/2012 - 14:56 | 2922362 Negro Primero
Negro Primero's picture
Good News From Venezuela :) "Spain lowers retirement age to 19 years and unemployment is at 1%"

(Google-Translate) bitly.com/Snfs5T

Fri, 10/26/2012 - 18:19 | 2922817 Dabale arroz a ...
Dabale arroz a la zorra el abad's picture

The next worse thing that can happen to us Spanish is to have a new plague named after us.

Do NOT follow this link or you will be banned from the site!