All EOS blogs All Spain blogs  Start your own blog Start your own blog 

David Rowe Spain

My thoughts and experiences on living in Spain

David Rowe Spain - Youth Unemployment
Thursday, January 24, 2013

 Spain's unemployment rate has hit a modern day record, and joblessness among young people has topped 55%.

Official data showed that the jobless rate in the last three months of 2012 rose 1% to 26%, or 5.97 million people.

The figure, the highest since the mid-1970s, follows Spain's prolonged recession and deep spending cuts.

The impact has been acute for 16 to 24-year-olds, who saw the rate in the last quarter of 2012 surge to 55.13% from 52.34% in the previous three months.

Spain's economy sank into recession after its property crash left millions of low-skilled workers without a job, and general economic decline eroded business and consumer confidence.

"We haven't seen the bottom yet and employment will continue falling in the first quarter," said Jose Luis Martinez, strategist at investment bank Citigroup.

The figures, from the National Statistics Institute, mean Spain's jobless rate is twice the European Union average.

The unemployment numbers will be a blow for Prime Minister Mariano Rajoy's government, which was last year forecasting a jobless rate of 24.6% by the end of 2012.

When Mr Rajoy took office in late 2011 there were 5.27 million people unemployed in Spain.

Youth unemployment continues to be a cause for concern across the European Union, not just Spain.

Tackling youth unemployment across the 27-nation bloc has become a serious issue for governments and policymakers.

Italy's prime minister Mario Monti, said on Thursday that the current challenge was to "bring new life to the economy, and the first ones to benefit will be the youth".

Italy's unemployment rate is 11%, and 37% among young people. He said that young people were being helped into work by measures such as awarding tax relief to companies employing 16-24-year-olds and changes to increase labour market flexibility.

But he said improvements were being impeded by some trade unions' resistance to change.

Eurostat, the EU's statistics body, estimates that last November there were 5.8 million people (23.7%) aged under 25 unemployed in the 27 countries, of whom 3.73 million (24.4%) were in the eurozone area.

For last November, the lowest rates were in Germany (8%), Austria (9%) and the Netherlands (9.7 %), and the highest was in Greece 57.6 % (September 2012 figure) and Spain (56.5%).

However, many economists have wondered if the jobless data exaggerates the problem.

Jobless numbers include economically inactive people, including young people who are in education.

Some experts argue that youth unemployment is better and more accurately represented by using a ratio, calculated as the share of total number unemployed.

This reduces the extent of youth unemployment, although the figures remain high.

Eurostat estimated that for the last three months of 2011, the ratio of youth unemployed was 19%, the highest in the EU (9.1%) and ahead of Greece (13%), UK (12.4%), Portugal (11.7%), and Germany (4.5%).



Like 0        Published at 4:50 PM   Comments (0)


David Rowe Spain recommends Tocushstone Spain as a new way of being self employed in Spain
Tuesday, January 8, 2013

 Have a look at this new way of working in Spain, Touchstone have now launched in Spain to offer the self employed a new way of working, they offer massive saving on the current way of working.

www.touchstonespain.com



Like 0        Published at 12:59 PM   Comments (0)


Best of luck to Rich Shine
Monday, January 7, 2013

 I just want to wish Richard and karoline the best of luck in 2013 with Rich Shine their business.

Please have a look at their website.

www.richshine.webs.com

Good luck in 2013 Rich Shine.



Like 0        Published at 9:04 AM   Comments (0)


David Rowe Spain - Christmas in ElZoco
Thursday, January 3, 2013

 With the run up to Christmas I spent more time in the local shops of Calahonda and the Thursday Market of Calypso, to my suprise the Local Police of Mijas were out in force in the days running up to the year end.

I helped some poor brit who was on his holidays here as the police demanded his NIE number and Residencia card, to which he had no idea what they were. His car was photographed as it was on bristish plates and he was fined 250 euros for parking in a loading bay. The police at one point were thinking of impounding the car until he could prove it had only just aarrived in Spain.

the poor guy informed me he was here on a weeks holiday after driving down from France but after his treatment at the hands of the police he would not be comming back!

I sat and had a cold beer at a local cafe and watched the police hand out some 5 fines in 1 hour and tow 1 car.

Never in my 5 years of living in calahonda had i seen so much police action in ElZoco!

I wonder if Mijas Townhall needed some cash for the year end?



Like 0        Published at 12:01 PM   Comments (0)


Spam post or Abuse? Please let us know




This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x