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500% Rise in Spain's Long-Term Unemployment
With yields at record lows and stocks soaring, is it any wonder that the politicians of Europe's periphery are proclaiming victory over the crisis (and yet oddly imploring Draghi to do moar?). Perhaps, just perhaps, they are keeping one eye on the 'real' economic progress that is being made (or un-made) in their nations... such as Spain, where there are now 1.26 million people who have been jobless since 2010 and the long-term unemployment rate has risen by more than 500% since 2007.
Via Matthew Bennet of The Spain Report,
There are now 1.26 million Spaniards who have not had a job since 2010, and the total continues to rise, according to an adjunct report to the National Statistics Institute’s Active Population Survey published on May 23.
“In 2013, there were 1.276 million unemployed people who lost their job three years ago or longer, 234,200 more people than in 2012″.
The institute notes that this represents an increase of 22.5% on the figure for 2012, and that the very-long term unemployed now represent 23.1% of the total.
Edward Hugh, an independent British economist in Barcelona, told The Spain Report that: “The cost of the crisis has been distributed very unequally in Spain. Some barely have noticed it, while a growing number of others have been out of work for more than three years. Many of these people are now “structurally unemployed”, and many of those over 50 may never work again. It’s a national disaster.”
In the United States, long-term unemployment is considered to be those who have been out of work for longer than six months, but in Spain, 691,000 Spanish women and 584,000 Spanish men had not worked for more than three years.
Training For Unemployment
The break down of unemployment according to the subjects unemployed Spaniards had studied shows that, overall, those with a basic level of education are the worst hit: 32.5% are unemployed.
For men, the worst training programme to have followed in terms of finding a job upon graduation was: “environmental protection”, which shows an unemployment rate of 47.7%.
Education courses related to veterinary services, personal services, architecture and construction, and personal development also produced unemployment rates higher than 25%.
For women, the worst training option was architecture and construction, which produced a 30.7% unemployment rate.
Additionally, training programmes related to security services, manufacturing activities, social services, personal services and personal development all produced unemployment rates among women of more than 25%.
The programmes that produced the lowest rates of unemployment were mathematics and statistics (7%) and security services (7.8%) for men, and mathematics and statistics (6.6%) and life sciences (13.8%) for women.
But don't worry becaus ethe government is on it...
- *SPAIN TO BOLSTER POLICIES TO HELP LONG-TERM UNEMPLOYED: GUINDOS
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I'll read it manyanamañana .... zzzz
When I've finished watching this :-)
https://www.youtube.com/watch?v=39X4sXc0Ubc
Some carbon credits would fix that.
long term unemployed = unemployable and doomed for the rest of their lives in our so-called global economy
They don't get it. Soaring stock markets and cratering employment are embedded into the new biflationary (ie paradoxical) economy. None of their old tricks will work or save them anymore. Billionaires will trade sports teams while the masses sink into the quicksand. Biflation will continue to grind away at the purchasing power if consumers.
The pain in Spain is unemployment on the plains.
It's all good. The ratio of government dependents to long term unemployed hasn't risen at all. The regime there will get its votes as long as they can keep the bennies flowing.
Long-term unemployed? Who tracks that?
Whazzamatta? You mean there are NO 29.5 hour burger flippers in Madrid?
Why are they using the term long term unemployed when the chances of these people finding work is pretty much zero after so many years of looking?
It 'pays' to be on Spanish unemployment, as many times as you can... Just like in the US...
No it doesn't - they get diminishing dole payments over 2 years then, next to nothing after that.
Option - go live with Madre y Padre, cos that's what there is. Not much hoe, thus, of the Spanish vast surplus in unsold properties ever diminishing. Plus, that wouldn't help the (insolvent) banks, who would then have to realise their losses rather than marking to an entirely fictional market.
Spain, a great and lovely country, is utterly screwed by the EU and the banksters.
but still, hotel mama to comfortable, therefore no need to look for work elsewhere, same as in Italy, and: nice weather. I couldn't care less.
@ponifex. not the case at all. the uk & germany are full of hundreds of thousands of young spaniards who have left their homes to find work. while it's true that millions of spaniards have had to move back in with parents, it isn't the case that it's "hotel mama to comfortable". millions of spanish families don't have a single wage going into the household. it's made worse by the spanish being old fashioned and proud, so they are reluctant to sign up for foodbanks, etc. i live in extremadura and my wife volunteers at a food bank. it's all very distressing and your remark "i couldn't care less" isn't worthy.
yep, totally explains 40 basis point spread between spanish 10's and american 10's.
:)
shit this can only mean one thing, DOW, 12,456,789.1
Al infinito y más allá!
"Y es que quizás la lluvia
que cae tan fuerte
ya no te moja."
Juan Pardo/Rocio Jurado -- "Porque me habras besado"
...Coming to a Ukraine near you...
M. Draghi: "The pain in Spain stays mostly in the Plain. I think I've got it, I think I've got it!"
LOL
For Draghi being the Ex Goldman with heart of Stone ( not Gold) it is:
" My gain from Spain is not my pain"
"You got it? You got it?"
Well, I never been to Spain, but I kinda like the music.
In Oklahoma, not Arizona, what does it matter?
- Hoyt Axton
Well, I don't give a damn about a greenback dollar, spend it fast as I can, for a wailin' song and a good guitar, the only things that I understand, oh lord, the only things that I understand.
- Hoyt Axton
Convicted on charges of supply and demand, he was unloadin' the American Dream.
- Guy Clark, Supply and Demand
Those Spainards need to make some music and forget about work for a while.
Work is for people who can't fish.
With any luck, the unemployable will increase in numbers.
It appears to me that the two sectors with employment potential are for those who cook the books (mathematics and statistics), and those who protect them from the wrath of the rest (security).
The lefties used to promise full employment.
They're delivering full UNemployment.
I wonder why they aren't waving the "job creation" wand?
I wonder if they give them the Spanish version of the Obamaphone?