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Seven Shocking Statistics On Spain's Surging Joblessness
Spain's unemployment rate hit 26% again this week. Despite Rajoy's please for people to believe things are getting better, that the crisis is over (even as Draghi proclaims it otherwise and Axel Weber warns it is still festering), Spanish local ex-pat newspaper "The Local" has uncovered seven statistics that will help you understand just how serious the situation is. What is perhaps even more surreal is that in a year in which the economy supposedly grew, they depleted their pension reserve fund by 15%...
- *SPAIN WITHDREW EU11.6B FROM PENSION RESERVE FUND IN 2013
- Spain pension reserve fund ends 2013 With EU53.7 bln
So apart from that, here is how bad it really is in Spain...
New unemployment figures from Spain's National Statistic Institute (INE) show that recent macroeconomic improvements in Spain are yet to create new jobs.
While Spain has now clocked up two consecutive quarters of fragile growth, the INE data — based on a quarterly survey of 65,000 homes nationwide known as the EPA — shows the country's unemployment climbed back up to 26.03 percent at the end of 2013, up from 25.98 percent three months earlier.
Here The Local provides seven statistics that highlight the extent of Spain's unemployment problem.
1) Spain has now seen six straight years of job destruction. Some 198,900 jobs disappeared in Spain last year, and 3.5 million have vanished since the country's crisis began in 2008.
2) There are 1,832,300 households in Spain where nobody has a job. That is 1.36 percent more than a year earlier.
3) Some 686,600 households in Spain have now income at all — not even social security. That is twice the figure seen in 2007, or before the crisis struck.
4) More than 3.5 million in Spain have been out of work for at least a year — that 61 percent of all people who currently find themselves without work in the country.
Some 2.3 million people have been out of work for at least two years.
5) Spain's new jobs are of poor quality. The number of ongoing positions in Spain fell by 269,000 in 2013 while the number of temporary contracts rose by 81,300.
6) Some 69,000 found work in 2013, but unemployment actually rose in the final three months of the year.
This is because the number of 'active' people in Spain — those working, or seeking employment — actually fell by 267,900 last year, leaving a smaller pool of people fighting for the same jobs.
Many people — especially those in the 16–35 age group — have simply given up looking for work, or have left the country to look for work elsewhere. They are therefore no longer included in the official figures.
7) Working Spaniards put in 5.86 million hours of overtime every week from October to December, up 18.4 percent on a year earlier.
A total of 57.7 percent of those hours, or 3.38 million a week are unpaid. This is equivalent to 146,500 new jobs, says Spain's La Voz de Galicia newspaper.
Of course, the emerging market contagion spreads quickly from Latin America to Spain and is alreeady impacting their banks...
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Green Jobs are the answer.
It appears that in the U.S. today, the PPT is having trouble keeping stocks from crashing
and the gold monkey-hammering team says "WE'RE GOING TO NEED A BIGGER HAMMER"
Calling Dr. Krugman, calling Dr. Krugman.
I would like to see this article rewritten and the US substituted for Spain, and the numbers for US substituted for Spain. Six years of job destruction???? get back to me in a year after we've had 6 years of job destruction by Obama.
Go West young men...to Ireland...lots of green jobs...all is well, return to your Apple/Samsung/Angry birds opiated listlesness whilst your pocket is picked by the technocrats.
Neoserf..
You're joking right...
What green jobs do you jest of?
It is interesting to see the changes in Fedgov policy around cannabis. While I'm 100% for it, I feel like the ulterior motive is to placate the population.
No, GUILLOTINES are the answer: Whack a Bankster a day, to keep the Squid away!
Everyone is Spain is feeling on tapas the world.
DAMMIT EARL, HOW MANY TIMES HAVE I TOLD YOU NOT TO EAT THE SEED CORN?
don't worry, the european press already said it recovery and left the crisis
Spain will soon need to ask London and NY for their gold back.
Equity movements seem to be heading towards the safety trades. Gurd your loins!
Did you mean gird my loins, or guard my loins? "Don't touch my junk". As for equities, Janet Felon must be feeling really good right now. She has the boyz by their tiny balls, and no way does she distaper unless a mysterious extra $25 million shows up in her Cayman's account.
Or, they are already short, and they need to pay up so she does nopt end the taper. Either way the byatch wins.
IMO, keeping treasury yields suppressed is more important than their precious stock market, and letting the market go down so that people will flee to "safety" is a viable strategy in their eyes.
The 10 year under 3% at all costs. The alternative is the destruction of the system as a whole. Which we would greatly prefer, ergo, they'll do the exact opposite.
All this from a mere real estate bubble popping? There has to be more to it than that.
That is the way of things anymore. The overtime statement resonates anywhere. The only way through is do more for less. Brutal.
Imagine a world where "growth" would not be required for living.
But no, the fucking moneychangers have the world by the balls and loans are created out of nothing and lent at interest.
All the productivity gains of the last centrury have ben sucked out of us by this system.
The greatest scam ever pulled. Gigantic vacuum sucking the life out of everyone while an uber class sits on top of it all.
Fucking Elysium is where we are at, they just are not in the sky yet.
pods
My fave constructive response is from 4362650 Ignatius
below. To which I might add...
The "Green jobs" some here speak of might be a 'pivot point' (my alternative to boring 'game changer'), if they collaborate with the Danes and Germans, who are leading experts in Wind and Solar power. Spain has plenty of real estate for both.
And rather than using EUR debt-financing for the entire thing, they should use a combo: the EUR to buy the HW, and use some gold-backed or Solar-Watt-backed Tokens for the local Labor. Said Tokens redeemable with the utility companies, etc. The point is, a combo of cash and barter-labor can get the job done. And, in the process, they lock out the GS Squid and their CDS/MBS sludge.
For countries who are SERIOUS about getting out of the financial and energy death-choke by the CBs and US-backed oil cartels, pricing their non-oil energy supplies in anything but Petro-dollars makes sense.
In fact, as I have made the case before, a country needs to issue currency that is backed by a combination of: PM (Gold, Silver, Platinum) and Mega-Watts of lasting green Electrical Power (Hydro, Solar, Wind). Those are "naturals" (pun intended) to back a currency, that all humans can put their faith in: They're in limited supply, and supplied by Nature -- rather than the Infinite Fiat Debt, supplied by the fucking parasitic, sociopathic, vile scum who have hijacked finance and politics.
The extent to which these (obvious!) solutions are not being implemented or publicly discussed in the MSM, is the extent to which the Oligarchs and CBs are manipulating/managing the national issues, policies and ploticians*.
* No, it's not a typo. It's frank Kirk-speak.
Elysium felt depressingly accurate. The cog dis for my wife was pretty intense.
"Why didn't they just make the medical machines available for everyone?"
"Because the controllers at Elysium viewed the Earth populace as essentially legally free, but pratically slaves. You might say they viewed the Earth population as "useless eaters" who were only good for the returns on their productive labor, and their consumption of products."
She didn't have sex with me for a few weeks. I understood this response. It's hard to be close to a person that reveals terrible truths.
I just spent 8 days in Spain and very few seem to be working but no-one is taking to the streets. It came to me: Is Socialism the opium of the masses?
No, but Rioja and Serrano ham are. :~)
See your problem is you can't distinguish a "working" Spaniard from a "non-working" Spaniard, ... and neither can the Spaniards apparently
The black economy.
Many in Spain prefer to work in the black economy. They earn more so.
A waiter in a restaurant earns a net income per month legally 800 euros.
In the black economy he earns 1000 euros.
Many prefer the black economy.
"Black" economy is such a loaded and handicapped word.
Let's call it by its more useful name: The Parallel Economy (because its runs parallel to the Official Economy), which does not distinguish between the source or tax-burden of the 'currency' used.
Parallel Economy = Barter + Cash + PM (gold, silver) + Real Assets + Crypto_Currencies
= Free-Market based (natural, organic)
= Decentralized
= libertarian/Libertarian = Freedom from debt-backed currencies
= Imposes natural limits to the cancerous power grab and central control by compromised governments that have been hijacked by a small, powerful elite (Oligarchs and their private cartel of bankers)
The Cash component of the Parallel Economy may be White, Gray or Black: it have been legally earned, declared and taxed as income (White money), it may have been legally earned by undeclared and untaxed (Gray money) or illegally earned and undeclared/untaxed (Black money).
p.s.
It is a separate discussion for EACH country, its People and its Constitution, whether the other components of a Parallel Economy (barter, cash, PM, crypto-currencies, etc) are subject to Declaration of Income or Gain, and subject to Taxation. It is also a legitimate and necessary discussion as to what extent a group of People may "opt out" of the Official Economy -- either on the basis of Ideology or as a form of Protest of excessive taxation by the Government, vis-a-vis the Quality and Level of Services it provides to said People. IOW, if a People do not think that their Government is "doing its job", the People shall have the right to -- in effect -- "fire" their government as an "Unacceptable Service Provider":
The Spanish people put a lot of time and energy into taking to the streets, the city, town and neighborhood squares, in a movement that dwarfed (and inspired) Occupy. It didn't have much impact on the behavior of the Spanish government, and I gather it faded because life was too urgent for an effort that wasn't getting results, but it did, no doubt, expose for all to see which politicians were ultimately tools of the international bankers. (Most of them.)
I don't know what else came out of Occupy Spain, but certainly millions of people must have met their neighbors and had long hours of intense talk about the system, the situation and what to do about it. No doubt, just as here, in their hearts many have formed and are nursing a terrible resolve, and we coud take the current relative quiet as the calm before the storm ... or the exposed beach before the tsunami.
Anyone have evidence on that speculation, one way or the other?
Tyler, the first line has a typo. It should read "pleas."
and also "3) Some 686,600 households in Spain have now income at all" should be no income
I have the same typo headaches when I use my phone to blog, and overlook its 'auto-corrected' words.
Tip: It helps if you use Word to catch the typos and grammar mistakes, then paste it into the blog. Or at least use the ZH "ABC" spellchecker and Preview options to do the same.
Dear Spain
Exit the Euro, cancel the debts, issue your own sovereign currency and make (encourage) unencumbered physical gold your prefered vehicle for savings and settling foreign exchange deficits. If you issue currency comensurate with your economic activity you should be fine. You have everything you need to thrive. Tell the private banking oligarchs to go fucka themselves.
P.S. Prepare to be invaded, Al CIAda is everywhere, ya know.
A friend
The socialists are slowly destroying Europe. No one even needs to fire a shot when their opponent is suicidal.
Silver For The People
The Feudalists are slowly destroying Europe, using the socialist as the Useful Fool/Tool. No one even needs to fire a shot, when their opponent is equally uninformed and malleable.
Fixed it for ya.
What are festering pustuoles is the fucks running this show.
One has to wonder when some of these fuckers start feeding on each other. So far its GreenDreamTeamUnited.
Tick, tock.
oh well fuck, now this certainly is bullish
get that cunt Yellen to send a few printers over to Spain and it will all be better
right Barry?
And yet no Spanish (or Greek) banksters are hanging from lightposts...
There's one new person from Spain and 2 from Argentina in my area ....the diaspora from overseas continues...used to be all Chinese and Indians now we are getting south americans and some euros...all talented and fairly well off getting their butts out of dodge over in their own countries.
Are they mostly losing public jobs? Perhaps this is just an evil capitalist conspiracy to weaken the state for EU power grab. Holy moly I may have just uncovered a great conspiracy.
Not much time left before the SHTF. Someone in the east will default sometime this year and then we egt tha Domino effect.
I think they should ask for ther GOLD back. Good luck with that ........
Is war with Portugal possible?
We need some good old Krugman broken windows killing off of male malinvestments, which would free up females for prositution to economist, banksters and assorted symbol manipulators, fiaters, boil sucking pundits, ect....
Spanish Realtors: "BTFD (Comprar El Puto Dip)!"
Rothschild Realty: "We're cheap. We like to wait until there's blood in the streets before we buy".
They could fix their economy by sending a ship to South America and killing all of the locals
The poor/Spanish family's solution to going out on a date (wine, dine & movie): Buy fresh Baguette, Brie and Bevvies (wine), take the Mrs early to bed and watch a romantic comedy on the LCD-TV.
The food, drink and movie are on you, the rest of the night's on her. ;-), ;-),
Peak Everything http://www.youtube.com/watch?v=TFyTSiCXWEE This is the problem
Meanwhile the controlled sell-off in US equities is just that, completely controlled, and ready for the late day ramp. All while they go mad for bonds. Whatever, don't think anyone's jumping from windows on Wall Street just yet visit site:Handmade Leather Jackets, Coats, Biker Suits, Bags | Sydney