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Seven Shocking Statistics On Spain's Surging Joblessness

Tyler Durden's picture




 

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...


Via The Local,

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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Fri, 01/24/2014 - 11:19 | 4362618 autofixer
autofixer's picture

Green Jobs are the answer.

Fri, 01/24/2014 - 11:23 | 4362636 zorba THE GREEK
zorba THE GREEK's picture

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"

Fri, 01/24/2014 - 11:33 | 4362671 economics9698
economics9698's picture

Calling Dr. Krugman, calling Dr. Krugman.

Fri, 01/24/2014 - 12:02 | 4362773 Muddy1
Muddy1's picture

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.

Fri, 01/24/2014 - 12:18 | 4362855 NEOSERF
NEOSERF's picture

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.

Fri, 01/24/2014 - 12:31 | 4362932 Ourrulersknowbest
Ourrulersknowbest's picture

Neoserf..
You're joking right...
What green jobs do you jest of?

Fri, 01/24/2014 - 14:16 | 4363429 Panafrican Funk...
Panafrican Funktron Robot's picture

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.  

Fri, 01/24/2014 - 12:29 | 4362911 Kirk2NCC1701
Kirk2NCC1701's picture

No, GUILLOTINES are the answer:  Whack a Bankster a day, to keep the Squid away!

Fri, 01/24/2014 - 14:30 | 4363495 rubiconsolutions
rubiconsolutions's picture

Everyone is Spain is feeling on tapas the world.

Fri, 01/24/2014 - 11:18 | 4362619 booboo
booboo's picture

DAMMIT EARL, HOW MANY TIMES HAVE I TOLD YOU NOT TO EAT THE SEED CORN?

Fri, 01/24/2014 - 11:19 | 4362624 Sudden Debt
Sudden Debt's picture

don't worry, the european press already said it recovery and left the crisis

Fri, 01/24/2014 - 11:19 | 4362625 sudzee
sudzee's picture

Spain will soon need to ask London and NY for their gold back.

Fri, 01/24/2014 - 11:19 | 4362626 firstdivision
firstdivision's picture

Equity movements seem to be heading towards the safety trades.  Gurd your loins!

Fri, 01/24/2014 - 11:27 | 4362640 Hedgetard55
Hedgetard55's picture

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.

Fri, 01/24/2014 - 12:36 | 4362964 El Vaquero
El Vaquero's picture

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. 

Fri, 01/24/2014 - 14:18 | 4363438 Panafrican Funk...
Panafrican Funktron Robot's picture

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.  

Fri, 01/24/2014 - 11:21 | 4362630 Hedgetard55
Hedgetard55's picture

All this from a mere real estate bubble popping? There has to be more to it than that.

Fri, 01/24/2014 - 11:21 | 4362632 pods
pods's picture

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

Fri, 01/24/2014 - 13:28 | 4363200 Kirk2NCC1701
Kirk2NCC1701's picture

My fave constructive response is from 4362650 Ignatius   

belowTo 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.

Fri, 01/24/2014 - 14:27 | 4363476 Panafrican Funk...
Panafrican Funktron Robot's picture

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.

Fri, 01/24/2014 - 11:24 | 4362638 autofixer
autofixer's picture

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? 

Fri, 01/24/2014 - 11:26 | 4362646 Hedgetard55
Hedgetard55's picture

No, but Rioja and Serrano ham are.  :~)

Fri, 01/24/2014 - 11:29 | 4362655 Azannoth
Azannoth's picture

See your problem is you can't distinguish a "working" Spaniard from a "non-working" Spaniard, ... and neither can the Spaniards apparently

Fri, 01/24/2014 - 11:56 | 4362752 Leaf of Tree
Leaf of Tree's picture

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.

Fri, 01/24/2014 - 17:47 | 4364503 Kirk2NCC1701
Kirk2NCC1701's picture

"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":

  • These issues rest on the foundation principles of Constitutional Law and whether a People in a given country are truly "Free".  Do they drive Taxation policy, or do the Hidden/True Rulers (Oligarchs and Banks) drive those policies via their front-men and henchmen, i.e. Politicians and LEAs (Law Enforcement Agencies). 
  • It's a fundamental issue:  Who exactly drives the basics of a country, as no genuine "freedom" is possible w/o a People's freedom to set in law certain Economic Basics, that include "What is and is not declared as a Taxable Asset, or a Taxable Gain or Income"? 
  • Without these definitions and fundamental limits to government growth, all Governments will tend to grow beyond their financial means and subjugate its populace to serve and preserve them, rather then them serving its populace.
Fri, 01/24/2014 - 13:42 | 4363291 WhyWait
WhyWait's picture

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?

Fri, 01/24/2014 - 11:26 | 4362649 Der Wille Zur Macht
Der Wille Zur Macht's picture

Tyler, the first line has a typo. It should read "pleas."

Fri, 01/24/2014 - 11:47 | 4362724 Took Red Pill
Took Red Pill's picture

and also "3) Some 686,600 households in Spain have now income at all" should be no income

Fri, 01/24/2014 - 12:52 | 4363070 Kirk2NCC1701
Kirk2NCC1701's picture

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.

Fri, 01/24/2014 - 11:27 | 4362650 Ignatius
Ignatius's picture

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

Fri, 01/24/2014 - 11:29 | 4362652 fiftybagger
fiftybagger's picture

The socialists are slowly destroying Europe.  No one even needs to fire a shot when their opponent is suicidal.

Silver For The People

Fri, 01/24/2014 - 12:38 | 4362978 Kirk2NCC1701
Kirk2NCC1701's picture

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.

Fri, 01/24/2014 - 11:29 | 4362658 OldE_Ant
OldE_Ant's picture

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.

Fri, 01/24/2014 - 11:32 | 4362668 Rising Sun
Rising Sun's picture

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?

Fri, 01/24/2014 - 12:17 | 4362677 Snoopy the Economist
Snoopy the Economist's picture

And yet no Spanish (or Greek) banksters are hanging from lightposts...

Fri, 01/24/2014 - 11:44 | 4362710 Handful of Dust
Handful of Dust's picture

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.

Fri, 01/24/2014 - 11:56 | 4362749 DeliciousSteak
DeliciousSteak's picture

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.

Fri, 01/24/2014 - 12:09 | 4362805 thewayitis
thewayitis's picture

 

 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 ........

 

 

Fri, 01/24/2014 - 12:15 | 4362849 Offthebeach
Offthebeach's picture

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....

Fri, 01/24/2014 - 12:19 | 4362860 Kirk2NCC1701
Kirk2NCC1701's picture

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".

Fri, 01/24/2014 - 12:23 | 4362880 Spungo
Spungo's picture

They could fix their economy by sending a ship to South America and killing all of the locals

Fri, 01/24/2014 - 12:48 | 4363029 Kirk2NCC1701
Kirk2NCC1701's picture

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.  ;-),   ;-),

Fri, 01/24/2014 - 22:11 | 4365295 Notarocketscientist
Notarocketscientist's picture

Peak Everything http://www.youtube.com/watch?v=TFyTSiCXWEE  This is the problem

Sat, 01/25/2014 - 05:50 | 4366066 shawnmike
shawnmike's picture

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

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